News Column

Azerbaijan : WORLD BANK approves $300 million loan package to AZERBAIJAN

June 14, 2014

The World Bank is to offer the coordinated $300 million loan package for Azerbaijan.

According to the World Bank s office in Baku the three loan package coordinated with the government will be endorsed on one day at a time. It added, The Banks Board of Directors plans to consider and endorse the package during the second week of July.

Approval for the loan package was earlier postponed until the next financial year of the bank beginning on July 1, 2015.

The Azerbaijani government and the World Bank during May month concluded negotiations on additional financing for the National Water Supply and Sewage Services Program (NWSSP) and the second Azerbaijan Rural Investments Projects (AzRIP), and also the Juridical Services and Smart Infrastructure Project (JSSIP) supplementing the Juridical Modernization Project (JMP).

The World Bank will be providing $150 million for NWSSP (AF), with the government adding $83 million.

Towards AzRIP-2 (AF) the bank will invest $50 million, and $30 million will be sourced from the government.

The largest project being JSSIP, both the bank as well as the government will be offering $100 million.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters