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News
World Bank Approves Additional Financing for Azerbaijan’s Highway Program  |
Jun 25, 2009
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The World Bank today approved a $62 million equivalent IDA Credit and US$113 million IBRD loan to the Republic of Azerbaijan as additional financing for the Second Highway Project. This financing will continue the Bank’s road program in the country to enable it to become a regional transit point and promote local development. Specifically, the financing will support rehabilitation of the Hajigabul – Bahramtepe road connecting an important agricultural region in the South West of Azerbaijan–home to significant portion of the country’s population–with the main urban centers. In addition to rehabilitating 116 km of highway, the project will support the improvement of about 200 km of local roads connecting the highway with nearby villages.
The Hajigabul – Bahramtepe road project has a very strong regional development dimension, as it integrates both highway rehabilitation, and village roads improvement. There is strong evidence from other projects in Azerbaijan, and elsewhere, that rehabilitation of roads significantly improves the mobility of goods and services between rural areas and urban centers, boosting businesses through a reduction in transport costs, increasing incomes, and reducing prices for the rural and urban poor.
“This Project will strengthen domestic connectivity. More than half a million Azerbaijanis will directly benefit from road improvements by being better able to trade with main urban centers and neighboring regions,” said Mr. Asad Alam, World Bank Regional Director for the South Caucasus.
“Projects like this one, by upgrading a network of main and secondary roads, will also benefit local communities and boost regional development, which is a major priority for the Government,” added Jacques Buré, Task Team Leader for the project.
The additional financing has two components which include the civil works for the above roads, consultancy services for the engineering design of connecting roads and the supervision of the works as well as the provision of technical assistance for project implementation and the design of future investments.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$2.6 billion for 44 operations.
Official Press Release of World Bank |
| | World Bank Supports Public Investment Capacity Building Project in Azerbaijan |
Jun 24, 2009
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The World Bank today approved an $8 million equivalent IDA Credit to the Republic of Azerbaijan for the Public Investment Capacity Building Project. The project’s key objective is to improve the quality and efficiency of preparation and implementation of investment projects in key priority sectors, especially infrastructure.
The Government of Azerbaijan is implementing an ambitious public investment program aimed at rehabilitating and improving all major public infrastructure. However, it is also concerned about the quality of human resources in government ministries, agencies and state-owned enterprises that are implementing critical public investment projects which often lack modern project management and technical skills.
“This Project will develop key skills and domestic capacity for implementing the public investment program,” said Mr. Asad Alam, World Bank Regional Director for South Caucasus. “This will help strengthen the efficiency of public investment spending.”
“The Project is designed to provide training in both modern project management techniques, and specialized technical skills in selected sectors,” said Ms. Elizabeth Wang, Task Team Leader for the Project. “Special attention will be paid to measuring the impact of the project activities.”
The project has four components which will provide Government ministries and agencies with training on general project management, technical knowledge and skills in selected sectors, make training more effective and cover project implementation costs.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$2.6 billion for 44 operations.
Official Press Release of World Bank |
| | Azerbaijan and the World Bank sign additional financing for the Azerbaijan Rural Investment Project |
Apr 20, 2009
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Today, Government of Azerbaijan and the World Bank signed Financing Agreement for a $15 million equivalent credit from the International Development Association (IDA) to finance continuation of the Azerbaijan Rural Investment Project. The Financing Agreement was signed by the Minister of Agriculture of the Republic of Azerbaijan, Mr. Ismat Abasov and World Bank Country Manager for Azerbaijan, Mr. Gregory Jedrzejczak. The objective of the Project to improve living standards and increase the use of infrastructure services for households in rural communities. The Additional Financing Credit will help expand the ongoing AzRIP project to new areas, increasing the number of beneficiaries, ensuring greater cost efficiency, and extending the life of the project by three years.
“Development of rural regions of the country is a top priority of the Government of Azerbaijan, and the World Bank is delighted to continue supporting this important program. It serves the objectives of the balanced growth and economic diversification, by building the local capacity to prepare, implement and maintain vital regional infrastructure,” said Gregory Jedrzejczak, Country Manager for Azerbaijan in signing ceremony.
Approved in 2004, the ongoing Azerbaijan Rural Investment Project has three components including Infrastructure, Capacity Enhancement, and Project Management. The project currently covers 21 districts benefiting poor rural communities (1,000-10,000 population) with high agricultural potential and will now be expanded to an additional 24 districts. The project has contributed to an improvement in the living conditions of rural families by facilitating participatory development planning and providing and rehabilitating priority rural infrastructure identified by communities (e.g., roads, water supply, schools, health posts). The project has also established institutional capacity to promote community development within the State Agency on Agricultural Credits under the Ministry of Agriculture.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total over $2 billion for 45 operations.
Official Press Release of World Bank |
| | EBRD invests in Azerbaijani bank card services provider Millikart |
Jan 08, 2009
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The EBRD is acquiring a 10 per cent-stake in the bank card services provider Millikart LLC, a company currently owned by 18 private banks operating in Azerbaijan.
Millikart provides clearing and settlement services for credit and debit cards issued by local banks in Azerbaijan. The company focuses on providing a wide range of quality services at affordable prices to improve the scope, quality and efficiency of cash withdrawals at cash machines and payments at point-of-sale devices.
Private banks and individuals are expected to benefit from greater competition in a market currently dominated by one single, state-owned player. Millikart is a young, quickly expanding company which subscribes to international best practice and corporate governance. The EBRD will be represented at the company’s board with a director.
The EBRD’s investment will strengthen the company’s capital base, support its further growth and improve its efficiency. The project is complemented with technical assistance of up to ˆ250,000 for the implementation of an institution building plan.
Timothy Frost, EBRD Director Non-Bank Financial Institutions, said the investment “demonstrates the Bank’s commitment to the development of the financial markets infrastructure in Azerbaijan. Widening card payments by businesses and the general public will increase the flexibility, liquidity and transparency of capital flows.”
The EBRD investment is provided through the Shareholder Special Fund because of its importance to the development of the financial markets infrastructure in Azerbaijan. The Shareholder Special Fund was approved by the EBRD Board of Governors at the Annual Meeting 2008. The ˆ115 million-fund is used to complement the assistance of around ˆ80 million a year that has traditionally been contributed by EBRD donor countries. Projects are focused on the Caucasus countries, Central Asia and the Western Balkans region.
Official Press Release of the European Bank for Reconstruction and Development |
| | Azerbaijan and the World Bank sign loan agreement for additional financing for Highway II project |
Dec 17, 2008
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Yesterday, the Government of the Republic of Azerbaijan and the World Bank signed Loan Agreement for a $300 million loan from the International Bank for Reconstruction and Development (IBRD) for the Additional Financing for Highway II Project in Azerbaijan. Loan Agreement was signed by the Minister of Finance of the Republic of Azerbaijan, Mr. Samir Sharifov and World Bank Country Manager for Azerbaijan, Mr. Gregory Jedrzejczak. Also, the Project Agreement governing implementation arrangements for the project was signed between the World Bank and Azeryolservice JSC, the national road administration of Azerbaijan, was signed on the same date. The additional financing aims to support improvement of Azerbaijan’s highway network by financing certain sections of North-South and East-West corridors.
The Project consists of the following key parts:
Component 1: Upgrading of the remaining sections of the highway between Alat and Masalli and rehabilitation of the existing Baku bypass between Tagiyev and Sahil, as well as about 200 km of secondary and local roads.
Component 2: Provision of technical assistance, training and goods to support strengthening of Ministry of Transport (MOT) and Azeryolservice and carry out project implementation. This component will finance continued capacity development of Azeryolservice through provision of support to the development of standard documents for domestic investment projects, a Traffic Safety Strategy, a Road Development Master Plan, seminars and training to the investment divisions of the Azeryolservice, support to technical universities for curriculum development, equipment such as weighing scales and installation of automatic traffic counters.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total over $2 billion for 45 operations.
Official Press Release of World Bank |
| | The Tacis contractor on investment climate in Azerbaijan to be determined in end-October |
Oct 02, 2008
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The Azerbaijani Government and the European Commission are completing the selection of contractors for investment climate improvement project relating to TACIS Programme National Plan for 2006 fiscal year.
Asgar Alakbarov, the chief of the Department of Foreign Investments & Technical Assistance Coordination (Ministry of Economic Development of Azerbaijan) said the tender for contractor selection is ongoing.
“It will be completed in end-October and after the contract and entrance period concluded the contactors will launch their activity,” A.Alakbarov said.
Originally the 30-month project with EUR3 million budget should have focused on development of portfolio investments and Azerbaijan Investment Company (AIC), Baku Stock Exchange and State Securities Committee (SSC) should have become the project beneficiaries.
“Currently circle of beneficiaries is restricted with the SSC, Azerbaijan Export & Investment Promotion Foundation (Azpromo) and AIC. The latter can be rendered assistance on potential increase, evaluation of investment projects, and investment policy,” Alakbarov said.
Since 1992 EU has rendered assistance for EUR400 million to Azerbaijan, including EUR100 million within TACIS Programme. Plan budget 2006 fiscal year makes EUR22 million and start of these finances spending was scheduled for 1st half of 2008.
ABC.az |
| | World Bank may increase allocations into Azerbaijan economy |
Jul 25, 2008
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World Bank may increase amount of financial aids on implementation of projects in Azerbaijan, APA-ECONOMICS reports.
Peter Thomson, Director of Infrastructure Sector in the Europe and Central Asia Region of the World Bank noted that Board of Directors decided to allocate $1.2 billion to Azerbaijan within next two years.
“But it is not the highest limit. Bank can increase the limit learning credit capacity of the country,” he said.
APA-ECONOMICS |
| | World Bank Approves $164 million for Absheron Environmental Clean-Up Program in Azerbaijan |
Jun 17, 2008
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Today, the Executive Directors of the World Bank approved three projects under the Absheron Rehabilitation Program (ARP) that aim to improve the environmental situation in Absheron Peninsula, home to many in the Republic of Azerbaijan. Total World Bank financing of these three operations will be $164 million. These projects will help to rehabilitate the land polluted by the legacy of onshore oil production in Absheron, clean and safely dispose radioactive waste from defunct iodine enterprises, and improve management of solid waste in the Baku metropolitan area.
"These three projects are a part of a historical effort Azerbaijan is undertaking to improve the ecological situation of the Absheron Pennisula, and particularly to bring ecological conditions in Baku to European standards. The World Bank is very honored to participate in this effort,” says Gregory Jedrzejczak, Country Manager for Azerbaijan.
Most of Azerbaijan’s industrial potential is concentrated in the Absheron Peninsula, which also is one of the oldest oil producing regions in the world. Decades of industrial operations without proper care for the environment have left about 30,000 hectares of land in the peninsula polluted by oil products and various industrial waste. Moreover, the weak solid waste management system is unable to collect and dispose of any more than 60 percent of solid waste produced in the area. These factors pose serious health risks, and limit expansion of two major cities situated in the peninsula – Baku and Sumgayit, as they are ringed by the polluted zones.
"The Absheron Environmental Program is one of the most comprehensive and ambitious environmental rehabilitation programs in the region and these three projects are part of series of projects being developed by the government to address multiple environmental concerns in the greater Baku area,” said Aniruddha Dasgupta, the leader of the team that worked on the three projects,.
The Absheron Environmental Program has been prepared in response to the Government’s Environmental Action Plan and consists of three projects: the Contaminated Sites Rehabilitation Project (WB loan of $74.50 million); the Large Scale Oil Polluted Land Clean-up Project (WB Loan of $60 million); and the Integrated Solid Waste Management Project (WB Loan of $29.5 million).
The Contaminated Sites Rehabilitation Project will clean-up two former iodine production sites in Ramany and Surakhani; build a special radioactive materials storage facility; carry out national mapping of naturally occurring radioactive materials (NORM); and develop and partially implement a plan to clean 1,000 hectares of land.
The Large Scale Oil Polluted Land Clean-up Project will help the State Oil Company of Azerbaijan (SOCAR) to carry out a large-scale cleanup of oil polluted land by providing soil cleaning equipment.
The Integrated Solid Waste Management Project will help to build the capacity of a new Solid Waste Management Company, improve the existing official solid waste disposal site and close and clean-up informal dumps. The project will also supply waste collection equipment to five suburban districts of Baku.
These three projects represent the first phase of the Absheron Environmental Program to address the most urgent environmental concerns in Absheron. A substantial portion of these projects will be devoted to building long-term local capacity in the country to deal with complex environmental issues, ensure interagency coordination and raise public awareness.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$ 2 323,7 million for 45 operations.
Official Press Release of World Bank |
| | World Bank Approves Railway Trade and Transport Facilitation Project for Azerbaijan |
Apr 11, 2008
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The World Bank approved a $450 million Railway Trade and Transport Facilitation Project for the Republic of Azerbaijan that will improve railway services in the country, as well as the competitiveness, financial sustainability, operating and cost efficiency, and capacity of the Azerbaijan Railways (ADDY).
The project will target the transport corridor running towards Georgia (East-West corridor).
The Railway Trade and Transport Facilitation Project supports the implementation of the first phase of the 2008-2011 Program of Railway Modernization of the Republic of Azerbaijan. It will focus on the institutional restructuring of the Azerbaijan Railways.
The project has four components:
The Rehabilitation of East-West Main Line component will help rehabilitate the track, signaling, and power supply along the east-west corridor. It is expected that some 240 km of mainline track, which is currently in poor condition, will be rehabilitated. Through this investment, it will also be possible to remove the most critical speed restrictions and allow ADDY to handle existing and potential traffic up to 100 km/h for passenger trains and 80 km/h for freight trains without significant track delays on those 240 km. The project will also finance the conversion of the power supply on the East-West corridor to 25 kV.
The New Mainline Locomotives component will finance approximately 50 new mainline electric locomotives to operate on the East-West corridor.
The Modernization component will help to fully implement the International Financial Reporting System (IFRS), provide Advisory services to ADDY to carry out its modernization program, and provide necessary equipment to ADDY to improve its oil spill prevention and response capacity.
The Project Implementation Component will support the Project Implementation Unit.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$1.5 billion for 38 operations.
Financial.com |
| | Germany has signed finance agreement with Azerbaijan |
Apr 04, 2008
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A finance agreement has been signed between Azerbaijani and the German government on the commitment of the German government on financing projects during 2004-2007, the diplomatic representation of Germany in Azerbaijan said on 4 April. The projects will be financed through the German Bank of Reconstruction KfW.
The agreement was signed by Samir Sharifov, the minister of finance of Azerbaijan and Gans Josef Over, the German charge d'affaires from Germany.
The first agreement (2004-2005) envisages the allocation of credit worth of ˆ2.5mln and financial grant of ˆ3mln. KfW granted soft credit of ˆ2.5mln for the establishment of cadastre and grant worth of ˆ1mln to institutionalize the beneficiary organization. The system of real estate registration is expected to be set up in Shaki and Ganja from the resources.
The remaining part of the resources will be allocated for the water project to pay for the services of consultants to manage the project. The project has already begun and the Bank has already allocated ˆ37.3mln for 40 years with a grace period of 10 years at an interest rate of 0.75%.
Within the framework of the second agreement (2006-2007), KfW will grant a credit of ˆ8.5mln and financial grant of ˆ1.5mln. Some ˆ3.5mln of the amount is expected to be allocated for the housing finance and ˆ500,000 for accompanying measurers.
To support the entrepreneurship via the German-Azerbaijani Fund (GAF), KFW will allocate the third privilege loan in the amount of ˆ5mln and an additional ˆ1mln as a grant for management of the Fund and payment for the services of a manager - German Savings Bank Foundation for International Cooperation (SBFIC). Since 1999, KfW has provided ˆ8mln to GAF.
The Agreement will take effect after it is ratified by the Azerbaijani parliament.
IAA "Trend" |
| | World Bank to assist Azerbaijan in Master Plan Development |
Apr 02, 2008
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The State Committee on Architecture and City Building is developing a master plan of Azerbaijan, stated Jahangir Gojayev- the head of international relations department of the committee, on 2 April.
“The plans of Sheki, Shemakha, Yevlakh and Masally have been developed,” Gojayev said.
According to Gojayev, the master plan of Azerbaijan is still developing with the active support of World Bank.
In June 2007, the World Bank approved of a project on improvement of water supply and sewerage system of small cities with the budget of $230mln. The project will cover 22 districts of Azerbaijan.
The project includes three components. Investment in the water supply infrastructure and sewage systems is envisaged in the first stage. The project will cover twenty regions of Azerbaijan including Agstafa, Bilasuvar, Geranboy, Gabala, Guba, Saatli, Oguz, Khanlar, Tovuz, Zakatala, Hajigabul, Kazakx, Gakh, Mingachevir, Sabirabad, Samukh, Shamkir, Tartar and Nakhchivan Autonomous Republic.
In the second stage, there are plans to render technical assistance for the development of general plan for development of the water supply system in Baku and Absheron Peninsula.
The third component includes institutional modernization of the company Azersu by introducing international standards of financial accounting for the improvement in the billing system.
Implementation of the project is expected to continue until 2012.
IAA "Trend" |
| | World Bank loan for Financial System Modernization Project in Azerbaijan to amount $10 million |
Feb 28, 2008
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The World Bank Group (WBG) next mission (its Baku trip began on Feb.13) for Financial System Modernization Project (FSMP) in Azerbaijan has completed its work. The mission was led by Michael Edwards.
The Baku-based WBG resident representative office informed that the mission succeeded to co-ordinate all the Project issues.
“The Bank will extend a $10 million loan for FSMP, and this April the sides are to conduct official negotiations,” the WBG office said.
The mission also managed to accord the FSMP Programme.
“The major recipients of assistance will be the National Bank, the Ministry of Finance, and the State Securities Committee jointly with the National Depository Centre. The Finance Ministry has declined from raising finances for assistance to insurance sector,” the WBG office said.
The NB will be given mainly technical support.
“Due to the loan, the NB will be created a credit office on the basis of the available credit register, and all the NB information products will be united into data wear house. The NB will also be assisted in creation of norms and use of new forms of rural financing,” the WBG office said.
The SSC and NDC will be assisted in computerization and improvement of listing rules.
“FSMP also composes a component on improvement of financial literacy of the population, adjacent for all the beneficiaries,” the WBG office added.
The government expects that that the WBG Board of Directors will consider the Project this June.
Originally the FSMP loan was oriented for assistance to the Ministry of Finance (in the area of insurance sector development), the State Securities Committee (collective investment funds) and the National Bank.
The latter, due to the WB loan, expects to develop its information system, credit register office with its activity expansion and possible privatization, rural crediting in a way of project finance method and cluster development instrument.
World Bank is ready to extend about $20 million for the project on the IDA standards.
WBG was ready to finance around $20 million for the Project on the International Development Association standards.
ABC.az |
| | KfW agreed a conception of real estate registration project in Azerbaijan by own scheme |
Jan 28, 2008
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German development bank KfW successfully solved basic question on real estate registration and cadastre in Azerbaijan.
The Baku-based KfW office reported to Fineko/abc.az that due to special bank’s mission the project’s conception was agreed.
“As a result the project was decided to be realized in two country’s regions – Ganja and Sheki with near region. At the same time, offered preliminary e-cadastre scheme (buzzing and topography with determination of exact bounds of lands) and further real estate deals was accepted,” the office informed.
Earlier KfW encountered project concept disagreements with World Bank Group implementing a similar project in Azerbaijan. KfW offers to make a preliminary electronic cadastre, a flyover and topography with definition of clear borders of land plots) and further deals with real estate. And WBG suggests to measure real estate borders only after it become a subject of the deal.
The WBG system option will allow laying expenditures on topography upon the consumer and KfW option allows reduction of these expenditures, obtain clear division of real estate borders, and exclude a possibility for unauthorized seizure of territory.
At the same time KfW is ready to restrict its project activity with Ganja city and finance EUR2.5 million as a grace loan and EUR1 million of technical assistance. World Bank Group (WBG) endorsed a $30 million loan on March 21 for a similar project with budget of $38.57 million. WBG allocated the finances on the conditions of International Bank for Reconstruction & Development (IBRD).
ABC.az |
| | World Bank to render assistance to housing & public utility reform in Azerbaijan |
Dec 12, 2007
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The World Bank Group is ready to join realization of the Programme of Housing & Public Utility Reform (drafting of its first version was started in 1997) being prepared by the Azerbaijani government.
During his current Baku visit WB vice president for Central Asia & Europe Shigeo Katsu said that the Project of Housing & Public Utility Reform is very interesting for World Bank.
“We have been working over such a project for years, but there are some nuances here – institutional development, improvement and foremost - to take into account interests of the needy population of Azerbaijan. After analysis of these indicators it will be possible to talk of this project financing by WB,” Katsu said.
The State Budget reserve fund stipulates AZN 25 million for improvement of financial and technical equipping of country’s public utility economy in accordance with a relevant presidential decree.
“Project implementation delay is linked with two causes – old public utility supply systems and the fact that public utility charge from the population has not reached desirable level. Nevertheless, we intend to work constantly over this project,” Katsu emphasized.
Earlier the minister of economic development of Azerbaijan said that 2008 will be the year of reforms in public utility sector. At the end of 2006 the Ministry of Economic Development reanimated housing & public utility reform frozen two years ago.
At the moment all the achievements in this area have led to creation of a state heat supply joint stock company which in fact failed to have any impact on country’s heat supply situation. Last year the government declined from raising private capital to this sector and this year it started careful return to market practice. As clear strategy is lacking, in 2008-11 the government is planning only to provide regular power supply for the population and enterprises, upgrade management system, 100% charge for public utilities, restoration of gas supplies for regions, restructuring of Azerigaz CJSC (Azerbaijan State Gas Company) and water sector for raising of investments.
For the last 10 years the government has failed so far to work out any plans on reforms of ageing housing fund system.
ABC.az
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| | Azerbaijan changes WB programme on financial system modernization |
Dec 12, 2007
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The Baku visit of the World Bank Group (WBG) mission on Financial System Modernization Project (FSMP) has been completed. The mission led by project supervisor Michael Edwards visited Baku from 1 to 7 of December.
A government source said that the sides agreed to continue work on FSMP loan project preparation.
“At the same time it was decided to change project focus and its components,” the source emphasized.
Originally the FSMP loan was oriented for assistance to the Ministry of Finance (in the area of insurance sector development), the State Securities Committee (collective investment funds) and the National Bank. The latter, due to the WB loan, expects to develop its information system, credit register office with its activity expansion and possible privatization, rural crediting in a way of project finance method and cluster development instrument.
World Bank is ready to extend about $20 million for the project on the IDA standards.
ABC.az |
| | Japan Bank for International Cooperation (JBIC) Finances $260 Million for Water-supply System Upgrade in Azerbaijan |
Dec 10, 2007
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Japan Bank for International Cooperation (JBIC) and Azerbaijani Government are finalizing a project preparation for water-supply & sewage system upgrade in small cities of Azerbaijan.
JBIC has already presented the credit agreement to the Government of Azerbaijan for review.
The Consultants - Tokio Engineering and ASPI Engineering estimated the project cost to be $30-40 million for each city. In light of such estimation, the Bank increased its participation in the project from $160 million to $260 million for five cities in total. The total cost of the project for 5 cities is $310 million.
JBIC is ready to apply a combined scheme for financing. First installemente will be extended for 30-year period with an annual interest rate of 1.4% and the second one for 40-year term under the rate of 0.65%. Funding for the consulting services will be disbursed under the rate of 0.11% per year for 40 year period.
ABC.az |
| | EBRD Provides $207 Million for Rehabilitation of AzDRES Power Plant in Azerbaijan |
Nov 07, 2007
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The EBRD and the Government of Azerbaijan signed an agreement last week on providing a $92 million loan to Azerenerji national power company to finance the rehabilitation of the AzDRES thermal power plant, the largest power plant in Azerbaijan with a capacity of 2,400 MW.
The loan will be used to finance a recently signed contract between the state-owned power company Azerenerji and China National Electric Equipment Corporation (CNEEC) to improve the plant's reliability, efficiency, health and safety conditions and to reduce carbon dioxide emissions. The financing complements an initial $115 million loan by the EBRD signed in November 2006.
The EBRD Office in Baku said the sovereign-guaranteed new loan addresses the reform of the energy sector to which Azerbaijan has committed itself in close cooperation with international financial institutions. The EBRD finance pursues a number of challenging objectives such as tariff regulation, financial reporting and qualification under the Kyoto Protocol for Clean Development Mechanism. It is estimated that AzDRES' carbon dioxide emissions can be reduced by 8.2 million tonnes by 2012 thus allowing the company to qualify for carbon credits which would provide an additional source of income.
The AzDRES thermal power plant consists of eight dual fuel, gas and heavy fuel oil units of 300 MW each. The plant is currently operating below its possible capacity and efficiency levels. This has strong repercussions as AzDRES is providing half the country's electricity generation and demand is increasing strongly thanks to a rapidly growing economy.
Varel Freeman, EBRD First Vice President, said the loan will ensure the implementation of energy sector reform leading to greater transparency and efficiency. Together with the increased output of AzDRES after the implementation of the rehabilitation programme, Azerbaijan will significantly improve its energy security and reduce carbon dioxide emissions.
The EBRD has been working in the power sector of Azerbaijan since 1994 through financing the hydropower plant Yenikend, completed in 2000, and Mingechaur, completed in 2003. The loan to Azerernerji is supported by technical cooperation grants from the US Trade Development Agency and the EBRD's donor-sponsored ETC Fund.
USACC |
| | Azerbaijan Ready to Receive $30 million ADB Loan for Alternative Power Project |
Nov 02, 2007
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ADB is willing to allocate loan for alternative power projects and is waiting for an official proposal from the Government of Azerbaijan, the Ministry of Industry and Energy informs.
Pre-implementation arrangements, however, including drafting the credit agreement, must be completed by the end of 2007, otherwise, consideration of the project may come into halt.
The Ministry plans to invite Entec consultants (Switzerland) to initiate the project. The Bank is looking forward to funding a two-phase project; the objective of the first phase will be to identify the investment project and the second phase will cover the implementation of the project.
The Government will sign a $900,000 contract with Entec consulting for its services.
The amount of ADB loan is $30 million. The Bank focuses on the projects, which help develop/increase small hydroelectric power plants in the country.
USACC |
| | ADB Providing Credit to SME Sector in Azerbaijan |
Oct 09, 2007
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The Asian Development Bank (ADB) is providing small and medium enterprises (SMEs) of Azerbaijan access to affordable credit to help the Central Asian nation develop industries beyond the oil sector.
ADB is extending up to $6 million in loans to Azerbaijan’s Bank of Baku, in two tranches - a US dollar tranche and an Azeri manat (AZN) tranche. The repayment of the local currency tranche will be linked to the AZN/US dollar exchange rate. The coupon will have a built in AZN/US dollar swap, which would allow ADB to participate in AZN upward movements. Both tranches which will be used for lending to SMEs. Bank of Baku is a commercial bank that primarily caters to retail customers, accounting for 60% of the retail sector of Azerbaijan.
“The proposed loans will provide increased access to financing by SMEs, which would help promote their operations and profitability and enhance their competitiveness, contribute to private sector development and translate into sustainable economic growth,” said William Willms, Director for Capital Markets of ADB’s Private Sector Operations Department.
One of the biggest hurdles facing SMEs in Azerbaijan is the lack of access to finance, though they account for 80% of registered private businesses in the country and represent an estimated 10% of gross domestic product in the past five years. SMEs are the biggest source of domestic employment outside of the public sector, providing livelihood for over three quarters of the country’s workforce.
“In the long term, Azerbaijan’s high dependence on oil exports may pose a threat to the economy given the potential volatility in the international oil market. The main challenge for Azerbaijan is to develop the non-oil sector to ensure that the economy continues to grow on a sustainable path after the oil boom,” said Mr. Willms.
ADB’s assistance is expected to help strengthen the banking sector of Azerbaijan, which is currently underdeveloped and unable to fully mobilize available liquidity and channel it to SME investment. As private banks are a key source of small-scale loans, in particular for individual entrepreneurs and SMEs, they are critical to the economy. The local currency tranche of the ADB loan is also an innovative means of financing for the Azerbaijan banking sector.
The partnership between ADB and Bank of Baku is expected to lead to further business opportunities.
Official Press Release of Asian Development Bank |
| | ADB Approves $500M Loan Facility for Azerbaijan's Road Network Program |
Oct 02, 2007
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The Asian Development Bank (ADB), at the request of the Government of Azerbaijan, will help finance a comprehensive road network program that will ensure sustainable economic expansion through increased trade flows and lower transport costs in the country.
The Road Network Development Program 2006-2015, which is estimated to cost $3.4 billion, was developed by Azerbaijan’s Ministry of Transport in July last year. The program, which includes an investment and non-investment component, aims to develop an adequate, efficient, safe, and sustainable road network.
The investment component of the program involves the construction, upgrade and rehabilitation of about 9,500 kilometers of 124 priority roads. The non-investment component focuses on priority reforms, including the development of regulations and operational procedures, encouraging private sector participation in construction and maintenance, and capacity building for planning, monitoring, evaluation, and reporting.
To help finance the program, ADB will provide a $500 million loan facility that will be available in stages. The first tranche, amounting to $200 million, will fund Project 1 under the Road Network Development Program. Project 1 involves the construction of 59 kilometers of a new expressway between Masalli and Astara on the southern corridor, the rehabilitation of local roads in the project area, the installation of a vehicle weighing station along the new expressway, and project support and capacity building for road network management.
“Connectivity, both domestically and internationally, is the key to sustainable development in Azerbaijan. However, about 70% of the country’s road network is in poor condition, resulting in high transport costs, long delivery periods and traffic accidents,” said Hong Wang, principal transport economist of ADB’s Central and West Asia Department.
The road network of Azerbaijan is inadequate to meet the needs of a rapidly expanding economy. Most roads are in poor condition due to inadequate funding and overloading, which has caused rapid pavement deterioration. The country’s entire road network comprises a total of 25,000 kilometers and is considered the dominant mode of passenger transport and the second major mode of freight transport.
“The road network needs to be developed to spur growth of trade, investment and tourism in Azerbaijan,” said Mr. Wang.
Official Press Release of Asian Development Bank |
| | World Bank and Azerbaijan Government Sign Loan Agreement on National Water Supply and Sanitation Project |
Aug 17, 2007
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The World Bank (WB) and the Government of the Azerbaijan Republic signed a loan agreement for the $230 mln National Water Supply and Sanitation Project for Azerbaijan. The loan agreement was signed by the Azerbaijan Minister of Finance, Mr. Samir Sharifov, and WB Country Manager for Azerbaijan, Mr. Gregory T. Jedrzejczak, a source at the WB Baku office reported. In addition, a project agreement was signed with the Head of Azersu JSC, Nizameddin Rzayev.
The total budget of the project and its components were estimated at $310mln, with $230mln to be allocated by the WB and the remaining funds to be allotted by the Azerbaijani government.
Two regions of the Nakhchivan Autonomous Republic (NAR) were included in the project and therefore, one more project agreement was signed with the Prime Minister of Nakhchivan, Alovsat Bakhishev.
The project, approved by the WB Board of Directors on 14 June 2007, includes three components.
In the first stage, work will be carried out in ten Azerbaijani regions (Agstafa, Bilasuvar, Geranboy, Gabala, Guba, Saatli, Oghuz, Khanlar, Tovuz, Zagatala, Hajigabul, Gazakh, Gakh, Mingachevir, Sabirabad, Samukh, Shamkir, Tartar as well as Sharur and Babak (the Nakhchivan Autonomous Republic). The project covers twenty regions of the country.
The second component finances the formulation of a Regional Development Plan for Greater Baku, which will provide the framework for future infrastructure investments (including water and sewerage investments) across the Absheron Peninsula.
The third component supports the development and implementation of key reforms needed for the modernization of Azersu and its subsidiary companies, as well as to the State Amelioration and Water Management Agency in Nakhchivan, in order to improve the efficiency and sustainability of Water Supply and Sanitation services.
The implementation of the project will be completed by 2012.
IAA "Trend" |
| | Signing of the Real Estate Registration Project Loan Agreement |
Jul 27, 2007
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Today, The World Bank and the Government of Azerbaijan Republic signed the Loan Agreement for the Real Estate Registration Project in the amount of USD 30 million. The Loan Agreement was signed by the Minister of Finance of Azerbaijan Republic, Mr. Samir Sharifov and the World Bank Country Manager for Azerbaijan, Mr. Gregory T. Jedrzejczak.
The objective of the project is to ensure a reliable, transparent and efficient real estate registration system supporting the real property markets and suitable systems for the management and use of State-owned immovable property.
Following independence, the country implemented many market-oriented reforms, including decollectivization of land, privatization of state-owned property and housing stock. In this context, security of title to land and immovable property and the ability to transact in the real estate market and obtain credit are fundamental for small- and medium-sized enterprises, rural development and labor mobility.
The project will have a beneficial impact on the provision of services to individuals and development of companies, especially small and medium ones. It will improve the transparency, speed and quality of services provided through improved facilities and procedures, and linking the systems used in land administration with the e-Government initiatives that are also aimed at reducing opportunities for corruption and providing better services to the public.
The project will have four components:
Real Estate Registration. The objective of this component is to provide more effective and efficient customer services in the registration of property rights through the improvement of the physical condition of the registration office premises and installation of automated systems and on-line services.
State Property Management and Register. The objective of this component is to support improvements in the management of state property.
Base Mapping and Land Cadastre. The objective of this component is to provide the basic geodetic, mapping and cadastral data for the automated property registration and state property management systems.
Training, Policy Development and Project Management. The objective of this component is to support project implementation and monitoring and to coordinate joint activities relating to training, developing a joint information technology/information management strategy, and policy and legislative development.
Official Press Release of World Bank |
| | European Union allots 92 m Euros to Azerbaijan |
Jul 21, 2007
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The European Union has allotted 92 million Euros to Azerbaijan to implement the National Plan of Actions for 2007-2010 under the European New Neighborhood Policy. The European Investment Bank is expected to grant 12 billion Euros for the twelve nations to pursue the new neighborhood policy between 2007 and 2013.
The issue of simplification of visa procedures between Azerbaijan and European Union is in the agenda as well. According to special representative of the European Commission to Azerbaijan Alan Waddams, the issue is now the focus of EU's attention. "Although visas are granted by EU member-states, we could help in simplifying the procedure at least for visiting students and scientists," he said.
In his words, Azerbaijan intends to discuss the matter at the gathering of the Azerbaijan-EU Cooperation Commission expected in Baku in September. Waddams said the allotted money will be spent on supporting the reforms in energy, finance, transport, environment, human rights and democracy sectors sin Azerbaijan.
Waddams praised the Azerbaijani government's efforts towards realization of the National Plan of Actions that he added will speed up the country's integration into the European Union.
AzerTAg |
| | World Bank approved the loan allocation into Azerbaijan E- Government project |
Jul 14, 2007
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The World Bank's mission is expected to visit Baku in August regarding the project on introduction of ‘E-Government’ , Azerbaijani Communications and IT Minister, Ali Abbasov, reported on 14 July.
According to Mr. Abbasov, the Ministry has already received a letter from the WB which says that the administration of the WB approved allocation of a credit for implementation of the project.
The components of the project and the direction of its implementation will be discussed during the visit of the mission. WB is expressed its readiness to allot a loan to Azerbaijan on the amount of $30mln.
The initial decision on the loan was taken during Azerbaijani Minister’s visit to the United States in the summer of 2006.
IAA "Trend" |
| | World Bank Supports Improvement of Water Supply and Sanitation Services in Azerbaijan |
Jun 14, 2007
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The World Bank today approved a US$230 million National Water Supply and Sanitation Project for Azerbaijan. The project aims to improve the quality of water supply and sanitation services in at least twenty regional centers (rayons) across the country.
The quality of water and sanitation infrastructure and services in many secondary and small towns in Azerbaijan has deteriorated severely over the years as a result of age, limited capital investment, and poor maintenance of facilities. These conditions pose a threat to public health and increase the risk of environmental degradation.
The project builds upon the recently completed Greater Baku Water Supply Project (GBWSP) and continues the World Bank’s long-term support to the improvement of Azerbaijan’s water and sanitation sector. It focuses on the rehabilitation of water supply and sanitation facilities in and around urban centers of the country, and supports key reforms to modernize sector institutions in order to improve their capacity, institutional and operational effectiveness, and commercial and financial viability.
“Addressing the critical needs in Azerbaijan’s water supply and sanitation sector in a sustainable manner calls for a multi-pronged approach that combines the much needed significant investments in infrastructure, with comprehensive measures to improve operational efficiency and effectiveness through capacity building and modernization of sector institutions”, said Andreas Rohde, head of the team that designed the project.
“This project is an important operation under the new Country Partnership Strategy between the World Bank and Azerbaijan, which seeks to promote balanced growth in the non-oil economy and ensure the welfare of current and future generations through, among other things, investment in infrastructure services and reforms in the utility sectors including water supply”, said Gregory Jedrzejczak, Country Manager for Azerbaijan.
The project has three components:
The Rayon Investment component finances the rehabilitation and extension of water supply and sewerage systems along with wastewater and septic sludge treatment facilities in at least twenty rayons.
The Regional Development Plan for Greater Baku component finances the formulation of a Regional Development Plan for Greater Baku, which will provide the framework for future infrastructure investments (including water and sewerage investments) across the Absheron Peninsula.
The Institutional Modernization component supports the development and implementation of key reforms needed for the modernization of Azersu and its subsidiary companies, as well as to the State Amelioration and Water Management Agency in Nakhchivan, in order to improve the efficiency and sustainability of Water Supply and Sanitation services.
By the time the project is completed, at least 700,000 people in the rayons are expected to have improved access to safe and reliable piped water supply, and to wastewater collection and disposal services.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$1, 057 million for 37 operations.
Official Press Release of World Bank |
| | EBRD to finance re-location of cargo terminal from Baku Sea Port |
May 28, 2007
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The European Bank for Reconstruction and Development (EBRD) has proposed Azerbaijani Government to finance the re-location of cargo terminal from Baku Sea Port, a source at the Azerbaijani Ministry of Economic Development has reported.
The matter was discussed during the visit of the Azerbaijani Economic Development Minister, Heydar Babayev, to the annual meeting of the EBRD managers held in Kazan, Russia in May. The intentions were reflected in the protocol signed during the meeting.
At present the Azerbaijani Transport Ministry is developing a project on construction of a new international trade port, taking part in which has already been proposed to the Japan Bank of International Cooperation.
The government is considering several versions of construction. A new international trade port is planned to be built in Garadag region. A small dry cargo port will be built in Zykh. It will have 3-4 berths for unloading of ships with ecologically pure cargos, such as foodstuff.
The EBRD is also interested in financing the construction of the port. The bank has plans to develop its own project on construction of the international port, as well as its location. Talks on re-location of the port to Hovsany region were held with the EBRD several years ago. The bank was ready to allot some $50mln. However, the talks did not meet with success.
IAA "Trend" |
| | EBRD and Azerbaijani Government sign Memorandum on support of Baku-Tbilisi-Kars railway project |
May 24, 2007
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The European Bank for Reconstruction and Development (EBRD) and Government of Azerbaijan signed a Memorandum on the Bank’s readiness to support the construction of the Baku-Tbilisi-Kars railway, Azerbaijan’s Ministry of Economic Development reports. “The EBRD voiced its wish to support the realization of the project,” the Ministry stated. The Memorandum was signed during the visit of the Azerbaijani Minister of Economic Development, Heydar Babayev, to Kazan this week for attending the annual meeting of the EBRD.
The EBRD support is very significant for Azerbaijan because the rail link is a very important regional project. The Chief of Azerbaijan State Railway Department, Arif Askerov, said on 17 May in Astana that the construction is intended to be completed in 2009. The coordinator for the project from Azerbaijan is the Transport Ministry. The initial cost of the project is estimated at $410mln, with $200mln for the construction of the Georgian section. Privileged credits will be granted for the project at the expense of the State Oil Fund of Azerbaijan.
IAA "Trend" |
| | ADB to Confirm a Multitranche Package for Road Projects in Azerbaijan |
Apr 10, 2007
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The Asian Development Bank (ADB) is planning to hold talks with the Azerbaijan government during the first half of 2007 regarding credit for road projects, which will be financed within the framework of the Multitranche Financing Facility (MFF).
The Baku office of the ADB reported that the Board of Directors of the Bank intends to finance a multitranche package to the amount of $500mln and credit agreement on the Masally-Astara automobile route reconstruction project, to be financed at the expense of the first tranche of MFF. As of preliminary estimations by a US consultant company TERA, the cost of the road is estimated to be approximately $215 mln, including $190 mln of ADB credit and $25 mln of the Azerbaijan government.
An ADB loan will be partially allocated out of the bank’s ordinary resources ($170 mln) (for 24 years with a 4-year privileged period and rate of libor+1% per annum), and $20mln on privileged terms (32 years with the privileged period of 8 years at a rate of 1% during the grace period, and 1.5% thereafter). The privileged part of the credit is allocated for the reconstruction of secondary rural roads, connected to automobile mains. In case the cost of the project is corrected, the sum of the credit allocated in ordinary terms will undergo some changes.
In accordance with the contract, TERA is committed to carry out 80% of the work, as it is in charge of the preliminary evaluation of the project. The final budget of the project will be set up by the second consultant, which will be attracted after the approval of a loan for development of a tender package.
Within the framework of MFF, the ADB plans to finance three road projects, including the Masally-Astara road, which is currently under consideration.
IAA "Trend" |
| | World Bank sets up study for possible approval of 3rd loan for Education in Azerbaijan |
Mar 07, 2007
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World Bank mission led by Project Director Rosita Maria Van der Mil is on a visit to Baku to review the Education Sector Development Project for Azerbaijan and investigate the necessity of developing a new project within this sphere. The WB Baku Office announced that the credit for the project will most likely be implemented in the 2008 Fiscal Year, as the Country Strategy Program has specified.
The Education Sector Development Project for Azerbaijan is committed to sectoral reforms in the education sector based on the Education Reform Program of 1999. The purpose of the reform program is to address key sectoral issues, some of which need to be prioritized on the basis of additional analytical work, to improve the quality of education, and to co-ordinate the entire sector.
The project has 5 components: 1) Quality and relevance of general education through curriculum reform for grades 1-11, to develop and enhance the potential of teachers, and to provide reading material for school libraries/Design and adopt the national curriculum framework, and prepare and implement new national standards/Establish strong links between the development of education reforms and professional teachers /Utilize textbooks and reading material to stimulate routine reading. 2) Reforms within financing and budgeting so as to gain an efficient use of financial, human and physical resources. 3) To supplement limited resources of specific schools in the three pilot districts to ensure that the poor are not discriminated against from quality education; 4) Management and planning capacity in the Ministry of Education to use available resources more effectively and efficiently. 5) Strengthening of co-ordination and monitoring mechanisms under the project.
The total cost of the project is $20.99mln, including $18mln of WB credit. It is the second credit for the reformation of the education credit, while the first credit of $5mln was allotted in 1999. The second loan was adopted at the WB Board of Directors on 27 May 2003.
The project will be effective until 31 March 2008.
IAA "Trend" |
| | World Bank determined the volume of annual credits granted to Azerbaijan from IBRD |
Jan 09, 2007
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Within the partnership strategy with Azerbaijan for 2007-2010, the World Bank (WB) is about to grant up to $250 mln. within the International Bank for Reconstruction and Development (IBRD) and Reconstruction annually.
Trend reports referring to the strategy prepared by WB, that the real volume of the crediting will depend on the joint financing with the Azerbaijan Government and the possible absorption (the capability to purposefully spend funds granted).
IBRD will finance in a way that allows taking into consideration the development of reforms in the sector at making any decision.
Up to 2005, WB financed Azerbaijan projects only on law conditions within the International Development Association (IDA). IBRD first credit for Azerbaijan was approved in May, 2005, the second one – in January, 2006.
Azerbaijan is currently on the way to turn to receive financing within IBRD from so-called “IDA financing”. It is proposed that taking into account great perspectives of growth, the assistance within IDA will be completed within the existing strategy.
IAA "Trend" |
| | World Bank assistance to upgrade Azerbaijan Financial Sector |
Dec 18, 2006
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The World Bank is prepared to continue its support to the development of financial sector in Azerbaijan, Trend reports. WB's leading economist on South Caucasus countries, Mr. Christian Peterson, said that so far two projects have been implemented in Azerbaijan at the WB financial assistance. These are Financial Sector Technical Assistance and Development of Market Services, which promoted the improvement of national payment system (small and big payments), post system with respect to carry out payment system through its divisions outside the capital, legislative basis in the banking sector and assistance in the improvement of the banking control.
Mr. Peterson noted that next directions of assistance should be the regulation of insurance market in line with the international standards and improvement of the financial accountability. “Amount of market capital amid general economic development is very little and assistance should be directed at this sector,” Mr. Peterson said.
WB Partnership Strategy with the Azerbaijan Government for 2007-2010 assigns $10mln for the project on upgrade of financial system in Azerbaijan.
The WB has allocated $5.4mln for project on financial sector technical assistance and $12mln – development of market services.
IAA "Trend" |
| | ADB plans to lend $500 million to Azerbaijan |
Nov 24, 2006
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According to the Asian Development Bank Office in Baku, ADB delegation led by lead economist Hong Wang has been visiting Azerbaijan from 8 to 22 November. The aim is to apply a new multitranche financing facility for the road infrastructure.
The delegation met with deputy Prime Minister Abid Sharifov and had meetings at the Ministries of Finance, Economic Development, Transport and other government agencies.
ADB offered $500 million as a loan to support road infrastructure projects in Azerbaijan. The first tranche out of three was scheduled for the Masally-Astara motor road construction. Presently, the government of Azerbaijan IS reviewing the proposal.
AzerTAg |
| | Asian Development Bank has increased financing of Alat-Astara Road Reconstruction Project |
Nov 20, 2006
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The Asian Development Bank increased the amount of the finances for the project of reconstruction of the automobile road Alat-Astara, Gong Wang, the Head of the ADB Road Sector Projects said at the meeting with the Deputy Chairman of the State Customs Committee of Azerbaijan (SCC) Safar Mehdiyev, Trend reports.
According to him, a credit totaling $150-200 mln is planned to be allocated to Azerbaijan for the reconstruction of Alat-Astara section. The finance will be presented in the first half of 2007. Presently, the feasibility study is being prepared for the project at the expense of $700,000 grant disbursed by the ADB.
After the completion of the preparation of the feasibility study, work will be carried out on specifying the estimate cost and volume of work for reconstruction of Alat-Astara section, as well as Astara customs checkpoint.
The World Bank has already allocated $200 mln for the section from Alat to Shorsulu and Baku-Shamakhi-Mugan. The Iranian Bank is also planning to participate in the project, by allocating $40 mln.
IAA "Trend" |
| | European Neighborhood Policy budget amounts to ˆ 17.2 mln. for Azerbaijan |
Oct 16, 2006
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The European Commission (EC) is intending to allocate ˆ17.2 mln. for Azerbaijan in 2007 within the European Neighborhood Policy (ENP), Mr. Asker Alekperov, Executive Director of the Co-ordination Office of Technical Assistance Programs of the European Union (TACIS) Programme in Azerbaijan told Trend.
“The budget will be increased over the next year. However, payments for the impending years have not been confirmed as yet due to the fact that the budget for 2007-2010 has not been confirmed. Distribution within the programs will be prepared and carried out annually,” Alekperov stated. According to him, preparations of the program have already begun.
The European Union has developed the first modification of the program after consultations in Baku. Recently, it is being examined by the state bodies of Azerbaijan.
The European Commission intends to realize the financing of two programs, TACIS and MEDA. The budget for ENP for 2007-2013 is proposed in the amount of ˆ15 bln. These funds will be disbursed amongst various countries.
The priority of the action plan for Azerbaijan have been defined, namely strengthening the democracy in the Country, upgrading the business and investment climate, supporting sustainable economic development, strengthening the co-operation between the EU and Azerbaijan with regards to energy and transport, regional co-operation, border co-operation, etc. The events are divided into three key areas: improvement of the management system; economical and social reforms; energy, transport, ecology and infrastructure.
IAA "Trend" |
| | Azerbaijan and World Bank concluded Credit Agreement regarding Court System Modernization Project |
Oct 04, 2006
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On October 3, a credit agreement was signed between the World Bank (WB) and the Azerbaijani Ministry of Justice regarding the modernization of court and legal system in Azerbaijan, Trend reports. From the Azerbaijani side, the agreement was signed by the Minister of Justice Fikret Mammadov and from WB by the WB Country Manager Gregory Yedzjeyzak.
According to the WB representative, the project amounts to $35.6 million, with $21.6m from the WB, $3m from Japanese Special Fund and $11m fro the Government of Azerbaijan. The project is intended for 5 years.
The WB credit was presented in line with the International Development Association in accordance with standard terms – for 35 years with 10 years of grace period and annual interest rate of 0.75%. Up on the completion of 10 years of grace period, the payment for the credit will begin with 1.25% and from 2026 to 2041 – 2.5%.
The project comprises of four components:
– To strengthen the management capacity of the juridical institutions by establishing computerized system of management, information network and training;
– To increase the opportunities of the courts – construction and repair of court buildings, application of contemporary technologies and computerization in the management system;
– To increase the professionalism of courts through trainings and regular studies;
– Pilot programs for civil information that improves the access of citizens to the information about the registration and notary.
On 29 June 2006, the WB Council of Directors approved the allocation of the credit for the court-legal system of Azerbaijan.
IAA "Trend" |
| | World Bank to carry out estimation of Land Cadastre Project in Azerbaijan |
Sep 18, 2006
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The World Bank mission led by project manager, a specialist on land administering, Mr. Gavin Adlington will visit Baku from 2 to 10 October 2006 to carry out preliminary estimation of the project for the establishment of land cadastre in the country. Baku office of the WB told Trend that experts of the bank together with the Azerbaijani government will discuss the components of the future project.
Beneficiaries of the project are the State Service on Register of Real Estate under the Cabinet of Ministers, the State Committee of Land and Cartography, the State Property Committee and the Ministry of Justice. Under the project it is planned to encourage information technologies to ensure high level quality. They consider the necessity for compiling new maps on different fields, where the scale was not recorded.
For the time being there is no agreement on the date of submission of the project to the Board of Directors. Though the WB proposes to submit it for approval in the beginning of 2007, the government voiced its interests in the intensification of the process and its possible approval by the end of 2006.
The cost of the project will be defined after the estimation and clarification of components, which will be included in it. The WB’s strategy on partnership with Azerbaijan envisages $30m, which will be allocated by the bank.
IAA "Trend" |
| | Azerbaijan to attract over US$ 1billion to road building in 2006-2008 |
Aug 17, 2006
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A presentation of projects being implemented, and projects to be implemented in the sector of road building was hold at the Ministry of Transport of Azerbaijan Republic today.Javid Gurbanov, the Head of the Department of Road Building of Yolnagliyyatservis of the Ministry of Transport of Azerbaijan Republic told that at present there are about 30,000 km of highways in Azerbaijan. 17,326 km out of the 18,799 km highways of common use belong to the Ministry of Transportation, 2,661 km of highways are under of the Armenian occupation on the territory of Nagorno-Karabakh, 1,473 km belong to the State Company of Nakhavtoyol, and the other highways belong to municipalities, different transportation managements, and enterprises, Trend reports.
J. Gurbanov also pointed out that at present the indicator of development of roads in the country is on the lower level. Today works aimed at changing of this indicator are carried out.
1st category roads (dual-dual highways) make up just 1 per cent (175 km) out of the total volume of roads of common use in the country. “About $5 b. are needed for the reconstruction of roads of the country”, pointed out the Head of the Department.
According to the Department, since 1998 till August 2006 $78,04 m have been spent on the road building of the country as credits of different international financial institutions. $20,2 m were spent in 2005.$16,93 m had been spend over the seven months of this year. The share of Azerbaijan in the total volume of means being spent on the road building since 1998 till August 2006 makes $12,63 m. This indicator in 2005 was $2,12 m. Over the seven month of this year the share of Azerbaijan in the road building makes up $3,14 m.
According to forecast in 2006-2008 $1 b. are expected to be invested as credits to the road building in the country (124,7 m in 2006, $399,3 in 2007, and $545,4 m in 2008). The share of Azerbaijan in the road building projects is expected at the volume of $238,887 m. ($20,247 m in 2006, $95,21 m in 2007, and $123,43 in 2008).
IAA "Trend" |
| | World Bank offers $500 mln for development of transport infrastructure in Azerbaijan |
Jul 14, 2006
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The World Bank (WB) offers $500m loan for the reconstruction of the transport infrastructure, Musa Panahov, the head of the Azerbaijani Deputy Transport Minister, told Trend. The Funds will be spent on the reconstruction of automobile routes of regional significance.
The World Bank (WB) takes interests in financing some motorways in the northern direction. Under the additional funds it is planned to reconstruct the road running from Muganly to Yevlakh and from Yevlakh to Beylagan (southern direction). It is also panned to reconstruct the route running via the territory of Zakatala and Balakan regions.
Panahov said that the WB funds allotted at the terms of the International for Reconstruction and Development (IBRD), yield those allotted by the IAD for terms. However, they could well compete with the terms of the commercial banks.
Earlier, Gregory T. Jedrzejczak, new WB Country Manager for Azerbaijan With development of Azerbaijan’s economy forecasted for the closest 15 years the World Bank’s policy for the country will change as well. In the future, Azerbaijan will receive credits from the International Bank for Reconstruction and Development instead of today’s from International Development Association. IBRD’s issues credits on stricter terms than IDA and thus our country shall prove WB’s preference as more profitable partner, he stressed.
Investment credits, he said, will take more place in the work between Azerbaijan and the WB than earlier those directed at maintaining governmental budget. The credits will be approved on commercial terms. Moreover the bank will avoid the terms that were set while approval of credits. The consultations by the bank will be of recommendation character.
IAA "Trend" |
| | World Bank's Board of Directors approved three projects for Azerbaijan |
Jun 30, 2006
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The WB's Board of Directors has approved three projects for Azerbaijan on its meeting hold today, Azer-press was informed from the WB office in Baku.
It should be mentioned that the WB and the Azeri Government spent the whole May at the final talks about the projected reforms in public health system and court system, as well as the second phase of agriculture development project in Azerbaijan.
The total budget to be borrowed for all three projects is $100.1 mln. The World Bank lent $50 mn for the public health project, $28.5 mn for ADP-2 and $21.6 mn for court reforming project.
Azer-Press |
| | KfW to Boost Credit Portfolio in Azerbaijan by Euro 50-60 mln. |
Jun 16, 2006
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The German re-construction bank KfW will release approximately EUR 50-60 mln towards financing projects in Azerbaijan, Azer-press learned from Oscar von Maltzan, the KfW regional director. According to Oscar von Maltzan, the money will go down on development of the finance, energy and banking sectors of the country. The German bank thinks of continuing the sectional co-operation with Azerbaijan. It is not planned to adopt a strategy of co-operation with Azerbaijan covering new economic sectors for the time being because development of those areas on which KfW and the Azeri Government have worked on together since 1995 remains the priority for the time being. KfW will continue its work on setting up the Credit Guarantee Fund, the Deposit Insurance Fund and on development of micro-lending, says Oscar von Maltzan.
It should be mentioned that the credit portfolio of KfW in Azerbaijan has reached EUR 184 mln over the 10 years past and the finance sectors accounts for EUR 55 mln of that.
Azer-Press |
| | The World Bank's healthcare project is evaluated on $79 mln |
May 22, 2006
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The WB completed conclusive stage of official negotiations with the Azerbaijan Government on the second project entitled: "Reforming Healthcare system", - Azer-press was informed at the local Bank Office. Official cost of the project is evaluated at $79 mn, $50 mn of which will be lent by the Bank according to IDA concessionary lending facility. "The Japanese Government participates in the project. It will grant $1.5 mn for technical support of the project", - they said at the Bank Office. Before project had been evaluated at $86 mn, however this value was revised afterwards during negotiations.
"Relevant documents for the project will be submitted to the Board of Directors after signing the Protocol for results of negotiations", - they said at the Office.
The Board of Directors is to approve the project on 29 June. The project provides construction of regional health spas in five regions of Azerbaijan such as Salyan, Shamkir, Khachmaz, Sharur and Geychay; improvement of ambulatory services in regions and preparation of high quality medical personnel. Implementation of the first project evaluated at $5 mn has started as of 2001. It expires in June.
Azer-Press |
| | The World Bank will lend $20 mln in new ecological project |
May 22, 2006
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The Ministry of Ecology and Natural Resources of Azerbaijan considers jointly with WB a draft of the project of cleaning contaminated lands of Absheron.
The Minister of Ecology and Natural Resources Guseyn Bagirov informed journalists on this.
"This is actively considered project in the WB portfolio. At present form of implementation of the project is determined as far as a part of this land is under supervision of municipalities and another one - on the state balance.
So it would be impossible to consider equally all these territories", - he said.
Particularly, it would be necessary to decide, "what will happen with these lands after cleaning".
The Minister also touched upon the problem of restoration of hydrogeology of Absheron, particularly drainage of lakes.
"Natural lakes should be cleaned, wild landscape and water content should be restored and banks should be improved. Because they are unique lakes of Absheron, major part of which are relict. However in respect to lakes appeared here as a result of breach of hydrogeologic conditions of lakes and reservoirs relevant measures should be undertaken", - the Minister said.
According to his words some of them should be drained. Works on restoration of landscape should be held on their territories and works on planting of greenery should be carried there after land rehabilitation.
"However the problem is not limited with drainage of lakes. Sanitation system should be constructed there. Special pipes for waste waters should be constructed there to provide dispatching waste waters to treatment plants. This is very expensive work", - G. Bagirov said.
Azer-Press |
| | Azerbaijan and World Bank will sign loan agreement on motorway project |
May 15, 2006
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The Azerbaijan government and WB will sign loan agreement on the project "Highways of Azerbaijan - 2" tomorrow.
The Minister of Transport of Azerbaijan Ziya Mamedov and WB Director for South Caucasus Donna Dowsett-Koyrolo will sign the agreement.
"All principal issues on the project have been agreed. The document is ready for signing", - the official of the Ministry said.
Total cost of the project "Highways of Azerbaijan-2" is $264.88 mn. WB Board of Directors approved the project evaluated at $200 mn according to IDA facility - for 20 years at 8-years grace period.
The start of works on the project is planned for summer - beginning of autumn. The project will include the work towards two trends - civil works (rehabilitation of the Alyat-Masalli segment at a length of 230 km evaluated at $170 mn and the Baku-Shemakhi motorway at a length of 120 km. The second component of the project supposes rendering technical aid, trainings and management for improvement of potential
Azer-Press |
| | The Bank KfW submitted technical specification on ecology project in Azerbaijan |
May 15, 2006
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The President of Azerbaijan Ilham Aliev approved the Law on Approval of the Agreement on financing the project of foundation of the Samur-Yalama National Park within frameworks of the ecological regional environmental protection Program for South Caucasus concluded by the Ministry of Finance of Azerbaijan and German Development Bank KfW alongside with special appendix to this Agreement.
Azer-press was informed at the Baku KfW Office technical specification on the project was submitted.
"After completion of adjustment procedure the bank will announce the tender on selection of consultant on the project. The competition will be held in accordance with standards of the EU", - they said at the Bank Office. The Bank will allocate the grant totaling EUR 2.55 mn within frameworks of the program of the bank for South Caucasus.
The new national park was formed in the territory of 12.485 thou hectares of administrative territories of the Khachmaz, Khudat and Yalama regions in the north of Azerbaijan. Unique relict forests, aqua-marshy areas serving as sites for wintering of migrant birds are located within this area.
Azer-Press |
| | World Bank issues $28 mln credit for second phase of agricultural project |
Apr 25, 2006
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The Government plans to start talks on the second phase of development and crediting of agriculture in Azerbaijan. Governmental officials told Trend that the World Bank estimated the project on $43mln.
International Development Association (IDA) is going to allot $20mln. First time the government was offered financing at tougher terms, which stipulate 35 ears of credit payments with 10-year postponement, but at Libor-2% rate. Today’s Libor rate is 5%, so these funds are issued at 3% annual interest. Japanese government is going to issue a grant on $1.6 mln. The rest funds would be provided by the Government.
WB’s experts also made some revisions of Phase 1 execution effectiveness on amount of $33.6 mln. These revisions did not satisfy the Government and it’s currently revising the results. WB officials say the project progressing shows a 5-6 effects, although Azeri Government considers such an effect very low.
The project envisages expansion of information and consulting services, promotion of private veterinary clinics and governmental veterinary services, upgrade of agricultural studies and project management as whole.
IAA "Trend" |
| | World Bank to finance three more projects in Azerbaijan in 2006 |
Apr 23, 2006
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The World Bank (WB) has decided to finance three more projects in Azerbaijan this year.
According to Saida Bagirli, External Affairs Officer at the WB Azerbaijan office, the projects will cover health, judicial and agricultural sectors.
Saida Bagirli said all the required documents had already been submitted to the WB Board of Directors.
AzerTAj |
| | World Bank completes evaluation of judicial system reforms project |
Apr 18, 2006
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The World Bank experts have completed the evaluation of the judicial system modernization project in Azerbaijan. Results have been presented to the PM, Arthur Rasizadeh, bank's local manager, Saida Bahirli told Trend.
The project` s total cost is $33.6 m. The WB share in the project is $20m, which will be allocated by the International Development Association (IDA). The IDA conditions are standard ones – for 35 years term with 10 year beneficial period and 0.75% annual rate.
WB is ready to address the Japanese government, which will provide $3m grant for the given project, WB told Trend. The rest will be provided by the government.
Project is aimed to improve the judicial infrastructure, building and repair of the regional courts buildings, including Supreme court building (though its repair will probably be financed by the state). It is also planned to equip them technologically; introduce modern IT, and create the data base. The project also includes conducting trainings for judges and improving the information spread in the society.
IAA "Trend" |
| | Asian Development Bank ready to allot funds to develop professional technical education in Azerbaijan |
Apr 13, 2006
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Asian Development Bank is eager to a allot funds to develop professional technical education in Azerbaijan, officials of the ministry of education of Azerbaijan told Trend, quoting the ADB representative Wolfgang Kubizki, who recently was holding a meeting with minister of education Misir Mardanov.
ADB intends to take specific actions in this respect, the bank representative said, presenting the program memorandum draft to Mr Mardanov.
The minister promised to submit the document to Azerbaijan’s Government as soon as possible and give the answer to ADB executives.
IAA "Trend" |
| | World Bank supports Azerbaijan in the fight against avian flu |
Mar 28, 2006
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The World Bank's Board of Executive Directors today agreed to make available US$5.1 million to help finance avian flu prevention, preparedness and response activities in Azerbaijan over the short to medium term.
The funds will be made available via restructuring of the Second Institution Building Technical Assistance Project (IBTA-2) to support Azerbaijan's response to the avian flu emergency.
"The World Bank processed this restructuring of the IBTA-2 project in record time to help the National Avian Flu Commission implement its plan to address the bird flu threat," said Donna Dowsett-Coirolo, World Bank Country Director for the South Caucasus. The National Avian Flu Commission's plan is intended to diminish the burden of disease and loss of productivity caused by avian flu, to limit the regional spread of the disease within Azerbaijan, and to enhance economic and social safety at the national, regional and global levels.
The restructured project includes the following four components:
1. Veterinary Services. This component will strengthen Azerbaijan's animal disease surveillance, diagnostic and response capacity. It will also support studies on the possibility of carrying out poultry vaccination and includes plans to design a compensation mechanism for both commercial and backyard poultry producers.
2. Human Health. The component will strengthen surveillance, diagnosis, and medical services by providing equipment, training, and drugs to the Ministry of Health. It will also help to reduce the impact of global pandemic, if one were to develop.
3. Public Awareness. This component supports implementation of a communication campaign to increase awareness among the population about the risks of bird flu and appropriate behaviors in dealing both with poultry and wild birds; and
4. Implementation Support. The component would support costs associated with project management and coordination.
The World Bank is already providing immediate support to Azerbaijan for critically needed veterinary and hospital equipment and supplies under two ongoing World Bank-financed projects that include veterinary services and human health among their main development objectives. Additional support for Avian Flu response is planned under two new projects now under preparation, the Agriculture Development Credit Project-2 (ADCP-2) for animal health services, and the Health Reform Project for human health needs.
The financing will be on standard IDA conditions; with 35 years of maturity of which 10 years are a grace period.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$930 million for 30 operations.
Official Press Release of World Bank |
| | Kuwaiti Fund to allot credit for reconstruction of Kurdamir-Ujar motorway |
Mar 07, 2006
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The Kuwaiti Fund for Economic Development has allocated 4.2m Kuwait dinars ($14.4m) for the implementation of the 46.2km Kurdamir-Ujar automobile road reconstruction project with the budget of $18.3m. The rest part financing will be provided by the government.
The Kuwaiti Fund has sent to the Azerbaijani government a draft credit agreement. The credit will be approved for 22 years with 4 years prolongation in payment and 2.5 rates a year. The construction work is scheduled for 2007. The two-stripe Kurdamir-Ujar road will be built in compliance with the feasibility study developed in 1999 at the expense of the Fund’s grant.
IAA "Trend" |
| | ADB to increase volume of crediting in Azerbaijan almost by 30% in 2007 |
Mar 01, 2006
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The Asian Development Bank (ADB) is going to increase its operations in Azerbaijan through funding the roads and water supply systems construction projects, Trend reports citing the bank report. According to the ADB Country Strategy and Program (CSP) the Asian Bank plans to allocate $179 million in loans in 2007 which is for $39 million higher of the loan volumes within the 2005 program.
The decision reflects increased support to the government’s infrastructure development plan, strong debt repayment capacity and a positive economic outlook. Besides infrastructure, ADB’s updated program will also address areas of power and energy sector, especially in renewable electricity and gas supply in underdeveloped regions to bring much needed electricity and heating for the poor.
The ADB support will be also performed through operations in the private sector for the sector’ better involvement in privatization of key sectors of economy. The four ADB loans planned for the year would address road improvements on the southern corridor, social infrastructure for internally displaced persons and regional towns and early childhood development.
IAA "Trend" |
| | World Bank supports rehabilitation of Azerbaijan irrigation and drainage infrastructure |
Mar 01, 2006
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On Tuesday the World Bank (WB) approved additional financing for the Azerbaijan Rehabilitation and Completion of Irrigation and Drainage Infrastructure Project (RIDIP) in the amount of US$5 million equivalent, the WB announced, The provision of additional financing is in response to the Government's request to help cover the increased cost of the project due to the rising price of construction materials and fuel, as well as the more than originally estimated rehabilitation needs, and will add to the original.
US$42 million credit from the International Development Association for the project for 35 years, including 10-year grace period under the interest of 0.75%.
More than 80 percent of all arable land in the country is equipped for irrigation. Many of the irrigation systems were developed during the former Soviet Union period with little or no attention to economic costs and viability.
The project also supports the completion of construction of the Mil-Mugan Collector Drain to reduce water logging and salination in the central and southern agricultural regions of the country. The works under this activity are also well advanced.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$930 million for 30 operations.
IAA "Trend" |
| | World Bank agreed to fund individual project on Azerbaijan Land Cadastre establishing |
Feb 28, 2006
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The World Bank agreed to the Azerbaijan government’s proposal to separate the component over the real estate registration from the project on developing and crediting agriculture in Azerbaijan (the second phase), the government told Trend. The World Bank consultants have already commenced developing of the new project, meaning to set up the Cadastre. The works cost estimate will be completed in the first half year of 2006.
About $5-10 million have been projected within agricultural project for establishing the Land Register. The government thinks these funds are not sufficient for such complicated and large project, as for setting up such Register in Nakhcivan within the first phase of the agricultural project $3million have been spent, taking into account the population of 300,000 people resides in the Nakhchivan Autonomous Republic (NAR). It means some $15-20 will be required for implementation of the large-scale project, covering the entire country with its 8- million population.
Separation of the component for establishing the Cadastre will not affect the agricultural project cost estimate. The World Bank loan will be in the same volume as the first component - $30 million. Funding is performed in the framework of the adjusted program “Agricultural development and crediting”, for which implementation the bank will allocate totally $100 million.
In the framework of the negotiations held, the government of Azerbaijan and the World Bank came to the common accord on enhancing the loan component within the project second phase. As the first Vice Premier Abbas Abbasov told Trend, by preliminary data it will be increased to $5 million. Apart from this, taking into account the country’s demands the enterprises for storage of processing industry products, support of leasing will be preferred.
The project’s approval at the Board of Directors is expected in the second half of 2006.
IAA "Trend"
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| | ADB to adopt Azerbaijan assistance strategy on 2007-2010 |
Feb 23, 2006
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A new strategy and program on assistance to Azerbaijan in 2007-2010 will be approved at a Board of Directors of the Asian Development of Bank (ADB) by November 2006, Mr. Mettiew Westfall, the head of Baku office of ADB, told Trend. The discussions with the government over the evaluation of the strategy continue and a presentation of a report on private sector was held on Thursday in this respect.
The strategy is comprised of two parts – financing of the public and private sectors. The ADB plans to allocate $187.5m for the public sector and $15m - for private sector over the subsequent 3 years. “The initial forecasts say that the funds can be approved in the similar amount during the subsequent 3 years. Depending on talks the sum can be increased or reduce,” he underlined.
$100m of the total $187.5m was allotted for road construction, $20m – infantile growth of children, $10m – social infrastructure, $40m – recoverable energy sources. It is also planned to allocate funds for micro-crediting, but the concrete amount is unknown, as it is being discussed with the government, Mr. Westfall underlined.
As of some sources, the bank is ready to allocate $100m for this project.
Different missions visit Azerbaijan to hold talks with the government with respect to define the priorities of the activities in the transport, social and energy sectors.
Mr. Philip Chang, a country economist at the ADB, who took his office in January 2005, will be involved in the development of a new strategy. Mr. Chang has an experince in development of a regional strategy for South Asia.
IAA "Trend" |
| | World Bank to allocate up to $20 million for judicial and legal systems reforming in Azerbaijan |
Feb 13, 2006
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For up-dating the Azerbaijan judicial system the World Bank (WB) jointly with the Azerbaijan government set to the project developing. The WB mission headed by the senior expert on state sector management Valid Malek is currently in Baku, the WB Baku office told Trend.
The World Bank will fund reforms in the judicial and legal system for the first time. The project is incorporated into the new partnership strategy of the World Bank with the government of Azerbaijan. Allocating of up to $20 million credit resources of the International Development Association is planned for these purposes.
The mission will stay in the country till 22 February. It will hold meetings at the Justice Ministry, the Supreme Court, other state bodies, with other donors, engaged in implementation of such projects in the country.
IAA "Trend" |
| | World Bank and Azerbaijan to finalize 2006-2009 partnership strategy discussions |
Jan 30, 2006
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The World Bank (WB) leading economist for South Caucasus Christian Peterson is currently in Baku for preparing the final version of the World Bank strategy and partnership project with Azerbaijan (earlier called country assistance strategy), the WB Baku office told Trend.
During the visit he plans to hold meetings at the government on further cooperation issues, as well as to finalize discussions on the new strategy. WB is going to produce to government the strategy project with the list of projects to be funded by it during the following four years.
The partnership strategy is likely to be approved by the World Bank Board of Directors in February.
The strategy total cost is about $1,2 billion. Out of this amount a major part will be allocated by the International Bank for Reconstruction and Development (IBRD). The larger volume is supposed to be allotted for road building – some $550 million. For social projects, for reforms in the legal and law enforcement system, accounting standards improvement, rehabilitation of irrigation and drainage systems, water supply system improvement bank also intends to assign loans from the International Development Association.
It should be reminded, during implementation of the last three-year strategy (2003-2005) Àzerbaijan received funds for implementation of 10 components totaling $190,25 million, from which only $48 million were under IBRD conditions.
IAA "Trend" |
| | European Bank ready to continue funding of road projects in Azerbaijan |
Jan 18, 2006
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The European Bank for Reconstruction and Development (EBRD) is ready to continue allocating of funds for the road projects implementation in Azerbaijan, including construction of the Baku ring motorway. To this end the government is to present relevant projects for the EBRD consideration, after which the decision will be made, the EBRD representative office head in Azerbaijan Reymond Conway said.
EBRD is currently funding two road transport projects in Azerbaijan. One of them is reconstruction of the part of the highway Baku-Samur (the Russian border). The EBRD loan’s amount is $100 million. They are allocated under standard conditions and under the state guarantee. These funds will be spent for the road reconstruction from 28 km to 89 km. The remaining part of the road will be rehabilitated by the Czech «Eximbank” with its loan of $180 million. Its loan is syndicated. From the total sum $102 million is allocated by “Eximbank” and $78 million by the French bank BNP Paribas. The loan is given for 15 years with the privileged period of 4 years and the Libor+0,6% interest rate.
The second credit is for rehabilitation of the Hadji-Kabul –Kyurdamir highway. The loan’s amount is $41 million. The project’s implementation period is 2 years.
IAA "Trend" |
| | World Bank supports better, safer roads in Azerbaijan |
Jan 17, 2006
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The World Bank today approved a US$200 million IBRD loan for the Azerbaijan Highways II Project. The project will help reduce road transport costs and improve access, transit and road safety within Azerbaijan's East-West and North-South corridors, through upgrading of some sections of the Alat-Astara-Iranian border highway and rehabilitating the Baku-Shamakhi road, which provides the shortest access route to important farming areas in the west of Baku.
Located at the crossroads between Europe and Asia and North and South, Azerbaijan has a unique opportunity to serve as a transit hub for flows of energy and goods in the region. To make the most of this opportunity, the country needs to improve its transport infrastructure, which has been heavily hit by transition-associated problems such as lack of investment, maintenance and management. Currently, about 56 percent of roads in the country are in poor condition and need urgent repair.
Improving the road infrastructure is also seen as an important way to reduce poverty and stimulate non-oil development in the country by improving better access to markets for the rural population, and encouraging trade and transit.
"This project builds on the strength of the ongoing Highways Project and is expected to be the first in a series of new transport projects aimed at further promoting regional integration and sustainable reforms in the sector," says Olivier Le Ber, head of the World Bank team designing the project. "As such, the project will actively contribute to the modernization of the national road network, a key element of the development agenda of the Government in light of the fast growing economy (and therefore huge car ownership and road traffic increase). The project is designed under an innovative programmatic approach to environmental and social safeguards describing the existing environment, discussing and comparing project alternatives and identifying risks and issues to be addressed during project implementation. Overall, project preparation took about 8 months, demonstrating the World Bank's fast responsiveness to client demands, despite the size and the complexity of the project."
As a result of the upgrade of key sections of the Alat-Astara road of the Baku-Iran highway, the road will become wider and significantly shorter, and the Baku-Shamakhi road will safely and comfortably link Baku with the western districts of the country. The first road, with a length of 230 km, would be widened to four lanes in line with modern standards, mostly along a new alignment which will shorten it by about 30 km and bypass the main cities, as well as improve overall traffic safety. The second road is a section of the shortest route from Baku to Georgia and to western Azerbaijan. This road, which winds through the mountains for 124 km, needs to be repaired, both for the economic revitalization of the region and for safety reasons. This project will also offer an opportunity to further modernize the sector, through enhanced design of roads and improved maintenance planning.
The project has two main components. The first component comprises civil works for Alat-Masalli, Baku-Shamakhi and their key access roads, as well as consultancy services. The second component will support provision of technical assistance, training and goods to support strengthening the road maintenance and project implementation capacity of the national road administration.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$711 million for 29 operations.
Official Press Release of World Bank |
| | World Bank and Azerbaijan Government start development of 2nd stage of agriculture project |
Jan 16, 2006
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The World Bank (WB) mission led by Frauke Yungblut, the chief economist on agriculture region, will start a visit to Baku from 17 January to prepare the second stage of the adapted program on development and crediting of the agriculture in Azerbaijan, the Baku representative office of the organization told Trend. The bank set to the development and estimation of the new project in late 2005.
The bank held negotiations with the Azerbaijani government to determine the components of the project due to be implemented within the bank’s partnership strategy with Azerbaijan for 2006-2009.
On 8 June 1999 the WB Board of Executive Directors approved the first stage on allocation of $30m by the bank and $3.6m by the Azerbaijani government. The first stage was envisaged for 4 years and was due to expire in the first half-year of 2004, but it was prolonged till June 2006. The further fate of the program will depend on the effectiveness of the implementation of the $100m project envisaged for 10 years.
WB plans to finance the second stage of the project as in the first case at expense of the International Development Association. Nevertheless, the participation of the International Bank of Reconstruction and Development in the implementation of some work within the project is not excluded as well.
IAA "Trend" |
| | JBIC bank to monitor existing and discuss new projects in Azerbaijan |
Jan 11, 2006
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For monitoring of the projects implemented in Azerbaijan and funded by the Japanese Bank for International Cooperation (JBIC), the visit of the bank delegation to Baku will take place the following week, the government told Trend. From the moment of the cooperation the bank invested about $500 million in implementation of the Azerbaijan’s projects (reconstruction of the EP-300 at “Azerkimya”, the first and the second phases of the Severnaya Hydro Electrical Power Station (Shimal HEPS).
The issues of the human resources enhancing will be also handled within the visit. The JBIC bank is ready to assist in establishing the agricultural vocational school project in Azerbaijan. The project’s preliminary version is supposed to be viewed during the current bankers visit.
The visit’s third goal is discussing of the “Azersu” JSC assistance in training of specialists, equipping the staff.
Meetings at the Cabinet of Ministers, Azerigaz JSC, Azeenerji, the Ministry of Industry, Fuel and Energy, the Ministry of Economic Development are scheduled.
IAA "Trend" |
| | UNDP partners with ADB and the Government in Azerbaijan to reduce poverty and develop the regions |
Dec 15, 2005
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The Asian Development Bank (ADB), the United Nations Development Programme (UNDP) and the Ministry of Economic Development today signed a Cities Alliance grant agreement.
The $548,000 project aims to enhance the strategic planning and governance in the pilot cities of Ganja, Sheki and Mingechevir in the coming 18 months.
The project Memorandum of Understanding was signed by the Minister of Economic Development Mr. Heydar Babayev, ADB's Country Director to Azerbaijan Matthew Westfall and UNDP Resident Representative a.i. Mr. David Eizenberg in the presence of the Israeli Ambassador to Azerbaijan Mr. Arthur Lenk.
Describing the Cities Alliance initiative as "interesting and innovative" at the signing ceremony in the Park Hyatt Hotel of Baku, the Minister of Economic Development underlined that it would pave the way for decentralized regional development. According to Mr. Babayev, if positive, the project would be replicated in other parts of the country.
Mr. Mehman Abbas, Head of the Secretariat of the State Program for Poverty Reduction and Economic Development (SPPRED) that will be an executing agency, made a general presentation on the project. He stressed that among the expected outcomes of the project were the elaboration of the development plans for the pilot cities and feasibility studies for concrete initiatives to improve the well-being of the people living in these cities.
Mr. Matthew Westfall, ADB's Country Director to Azerbaijan, expressed his satisfaction about the project's fitting well into both the Government's strategy of decentralized development of the regions and his organization's country strategy for Azerbaijan.
"This is the first project partnership between UNDP and ADB in the CIS region", UNDP Resident Representative a.i. Mr. David Eizenberg said in his remarks at the ceremony. According to him, several challenges facing the country can be addressed within one project: imbalance between oil and non-oil sectors and between Baku and the regions of the country as well as the gap between those living below and above the poverty line.
Speaking on behalf of the State of Israel, Ambassador Arthur Lenk announced that his country would offer training and scholarships for Azeri specialists in urban and rural development within the Cities Alliance project.
Minister Babayev in his concluding remarks stressed the innovative nature of the project allowing to bridge the implementation of two major national development programmes - the State Program on Poverty Reduction and Economic Development and the State Programme for the Socio-Economic Development of the regions.
Cities Alliance is a global coalition of cities and their development partners, committed to address urban poverty reduction.
UNDP Press Release |
| | World Bank to allocate $170m credit for Alat-Astara project |
Dec 12, 2005
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The Azerbaijani Government and the World Bank (WB) achieved an agreement on the first credit tranche for the project on construction and reconstruction of the Alat-Astara highway, the Azerbaijani Transport Ministry told Trend.
Such agreement was achieved as a result of the negotiations with the WB mission led by Olivier Le Berr in Bkau. The credit agreement is planned to be signed in early January 2006.
In accordance with the feasibility study, the length of the project was reduced approximately by 50 km and made up 192 km. The document was developed by the Ministry at expense of the Asian Development Bank (ADB).
The implementation of the Alat-Astara project requires around $400m. $300m will be allocated by WB, $40m - the Iranian government, the rest - ADB.
IAA "Trend" |
| | AT&T EMEA and CL has signed a new contract |
Nov 22, 2005
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AT&T EMEA and CL has signed a contract on conduction of Survey for identification of Enterprise Demand for New Telecom Service Offerings.
The purpose of the survey is to define regulatory, commercial and legal issues resolved for a new telecom service offering with high reliability and availability, security and consistent performance for enterprise voice, data and broadband needs at acceptable cost.
CL Press release |
| | World Bank to set up a new project in water sector in Azerbaijan |
Nov 14, 2005
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The World Bank intends to carry out a new water project in Azerbaijan, the Baku Office of the Bank told Trend. Ball Cris, head of the WB mission, visited Baku on Monday to set up preliminary preparations for a new water project, carry out research into the installation of water meters in the country, collect information and define the priority directions for the implementation of new projects. The head of the mission is scheduled to hold a meeting at Azersu state water company and some governmental organizations during the visit to end on 23 November.
IAA "Trend" |
| | “Alliance of Cities” project to start in November |
Nov 14, 2005
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The “Alliance of Cities” project, funded by the Asian Bank of Development (ABD) will start in late November, the ABD Baku office told Trend. "The project is a joint grant project by UNDP and the government of Israel and is managed from the part of Azerbaijan by the Secretariat of the State Program on Poverty Reduction and Economic Development (SPPRED). The project’s goal is improvement of the planned activities with involvement of all parties concerned in three regional towns: Sheki, Gyandja and Mingechevir. The “Alliance of Cities” project is targeted at the strategy of development of the city and regions on the pilot basis in three regional towns. The project is supposed to last 1,5 years, and the consulting centers will be established in Sheki, Gyandja and Mingechevir for its implementation. The consulting team will work in close cooperation with the local public, other participants and non-governmental organizations (NGOs) to facilitate the wording of the vision. This pilot project is supposed to assist in implementation of the State Program on Poverty Reduction and Sustainable Development, designed for 10 years.
IAA "Trend" |
| | Government of Azerbaijan & International Bank for Reconstruction and Development Sign Loan Agreement |
Nov 09, 2005
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The World Bank’s Country Director for the South Caucasus Ms. Donna Dowsett-Coirolo and the first Deputy Prime Minister of Azerbaijan Yagub Eyubov signed November 8 at the Cabinet the agreement between the International Bank for Reconstruction and Development (IBRD) and Azerenergy JSC on funding the project to upgrade electricity dispatch system in Azerbaijan.
At the ceremony on this occasion, First Deputy Prime Minister Yagub Eyubov spoke on cooperation between the IBRD and Azerbaijan noting that the last years’ rapid growth of the country’s GDP restricted the possibilities to receive soft loans from the WB’s International Development Association representing. Thus, majority of loans will be lent by IBRD.
According to Mr. Eyubov, the agreement envisages IBRD’s lending $ 48 mln to Azerbaijan. The objective of the project is to improve the efficiency of the power transmission operation in Azerbaijan through technical and institutional strengthening of the generation/ transmission utility. The loan’s term is 20 years with grace period of 8 years plus 0,5% Libor rate.
Having pointed out the importance of the agreement, Mrs. Donna Dowsett-Coirolo stressed the need for reliable power supply is increasing as economy of Azerbaijan is being developed. According to her, the government’s encouraging the economic development in Azerbaijan follows the policy towards improvement of the people’s living standards and poverty reduction. Energy sector is one of the President Ilham Aliyev and his government ‘s priorities for the. That is why we are pleased with entering this new partnership, she said.
AzerTAj |
| | Azerbaijan joins PREGA project |
Nov 03, 2005
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Azerbaijan has joined the regional project on technical assistance to the Asian Development Bank (ADB) ‘Rehabilitation of energy, energy efficiency and research of cut in hotbed gas’ (PREGA). Baku Office of the ADB told Trend a national report on recoverable energy sources will be developed in the country through interaction with the Ministry of Industry and Energy of Azerbaijan. The consultants hired by the Bank have set up work over the report, which will contain estimation of the current state and recommendations. The report will be complete by late 2005. Azerbaijan joined PREGA with respect to improve energy supply and research of the potential of development recoverable energy sources. The first stage of the report includes provision of potential for development of the project, definition of favorable opportunities for implementation of the project, technical, financial, economic and ecologic estimation of the pilot projects in the rural areas, review of obstacles in the sector and the public policy, spread of experience and presentation of the pilot project. The second stage of PREGA will pay special attention to detail and grounded study of investments in the wind, mini-hydrologic and sun energy. PREGA, which is financed by Dutch government and managed by the ADB, is designed for $4.5m to benefit for 12 member-banks (Central Asian, China and Mongolia).
IAA "Trend" |
| | 1 million Euro allocated for distant learning development project to Azerbaijan |
Oct 31, 2005
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The distant learning development system project has launched in Azerbaijan, the TACIS Coordinating Unit executive director Asker Alekperov told Trend exclusively. The project started by the financial support of the European Union. "The project is regional and covers all three South Caucasus states. The project’s budget is 3 million euro and will be distributed between the countries on parity bases”, he noted. The “Electronic Caucasus” project’s partner is the AzRENA company. The project has been coordinated with the Ministry of Communications and Information Technologies and involves development of teaching programs for distant learning”, he noted. According to Alekperov, the project’s implementation is 2 years.
IAA "Trend" |
| | EU increases Tacis budget for Azerbaijan to 22m euro |
Oct 31, 2005
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The European Union (EU) increased the budget of Tacis for Azerbaijan by 7m euro. Asgar Alakbarov, the Executive Director of the Coordinating Bureau of Tacis, told Trend earlier the financing is supposed to be 15m euro in 2006, while it was increased up to 22m euros. "We appealed for increase of financing, as 2006 will be the last year for implementation of Tacis. From 2007 it is planned to set up a program on new neighborhood and the last year of Tacis will become a transition to a new program. The European Commission recommended implementing 3 big projects under financing in 2006, whereas the realities show more probably 3-4 big projects will be financed and ‘twinning’ program will be implemented,” he noted. According to Alakbarov, projects under the ‘twinning’ programs have negative peculiarities, as state body of any EU member-country, but not contractor is involved in its implementation. “It is planned to approve 6-7m euro for the project with the budget of around 1m euros, which will surely enable to carry out 6-7 similar projects,” he underlined. During the period of cooperation the European Union has rendered 400m euro in assistance to Azerbaijan, of which 100m euros were provided through Tacis. Initially it was planned to approve 30m euro top Azerbaijan under the program for 2004-2006, of which 16m euro fell on 2004-2005 and 2006.However, following an increase of financing for 2006 the cost of the program was increased to 37m euro. Program for 2004-2005 for 2004-2005 Spheres of cooperation mln. åâðî 1: Institutalization, law and administrating reforms : Institutalization, law and administrating reforms 7.0 1.1. Agreement on partnership and cooperation (Stage III) 1.2. Improvement of border management and fighting with contraband 1.3 Reforms in social security system 1.4. Assistance to Transport Ministry Assistance to Transport Ministry 1.5. Assistance to the National Coordinating Bureau 2: Assistance to private sector and economic development 5.0 2.1. Assistance to regional economic development 2.2 International registration standards (Stage II) Other projects 3.0 TEMPUS 0.75 Program on assistance to political issues 0.90 Program on assistance to institutional building 0.60 Statistics 0.50 Reserve fund 0.25 Total 15.0From 31 October 2005 the National Bank of Azerbaijan set the official rates of AZM in as 5540,99 AzM/1 EUR.
IAA "Trend" |
| | WB plans to finance water, gas projects |
Oct 21, 2005
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The World Bank (WB) does not exclude the opportunities for financing some infrastructure projects under the new program on Country Assistance Program (CAS). Baku office of the WB told Trend two water projects could be implemented under the programs. "Besides, a large-scale water project focused on regions could be implemented under the CAS, while initially a project on the installation of water meters will be carried out with major accent on the capital," they said. Under the CAS it is also planned to carry out a project on the expansion of the capacity of Garadagh and Kalmaz underground gas reservoirs (UGR). "Under the project the bank could finance the expansion of the capacity of gas supply facilities and scales of the gas reservoirs,” a government source said. The feasibility study of the project on the reconstruction of the Garadagh and Kalmaz UGR has been designed. The project is part of Sate Program on the development of fuel and energy complex of Azerbaijan in 2005-2015. As initial estimations, $200m is required for the implementation of the project, which will enable to boost the capacity of the UGR to 3 billion cu m. The Cabinet told Trend the WB was ready to participate in the implementation of the gas project directed the rehabilitation of the gas distribution system. The project should concern not only Baku, but also the regions. "However, for the time being the discussions over the projects are only of preliminary character,” the same source said.
IAA "Trend" |
| | EBRD allocates $3.5m credit to 2 Azeri banks |
Oct 15, 2005
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The European Bank of Reconstruction and Development allocates $3.5m credit to local private banks to enable small and medium-seized enterprises to gain access to open new jobs, the Baku Representative Office of the bank told Trend. The EBRD grants $1.5m to Azerigazbank, $2m - to Bank Respublika to finance small and medium-seized enterprises. In 2004 this figure comprised $2m and $1m.Several months ago the European bank doubled an existing loan to Azerigazbank to $2m to promote trade, while similar facility for Bank Respublika was also doubled to $1m. Kurt Geyger, the EBRD Business Group Director for Financial Institutions, noted that small and medium-seized enterprises were grass-roots for economic development and the Bank was ready to support the local banks working in the sphere. The lack of competitiveness and undercapitalization in the banking sector of the country could have serious long-term consequences on the economic development prospects. Therefore, the EBRD continues active cooperation with local banks to strengthen competition and provide more liquidity in the sector. The EBRD is one of the largest investors in Azerbaijan, having committed to Azerbaijan over 574m euros.
IAA "Trend" |
| | EBRD lends $100 million for Azeri roads |
Sep 30, 2005
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The European Bank for Reconstruction and Development is making a $100 million sovereign loan to Azerbaijan to rehabilitate and upgrade a section of the main north-south road that links Russia and Iran with the capital, Baku, AzerTAj refers to the EBRD press-release.
The loan follows the Bank’s first road project with Azerbaijan – signed in July last year – to finance improvements to the main east-west highway across the country, which forms part of the historic east-west Silk Road to Central Asia.
Both projects will also help restructure the road sector, run by the Ministry of Transport’s Road Transport Services Department. First steps in this programme, already being implemented following the 2004 agreement, have significantly enhanced the road maintenance budget and clearly defined the respective roles of the Ministry of Transport and Road Transport Services Department.
About half the country’s freight is transported by road, and 86 per cent of passengers use road rather than rail. With its oil industry, sea access and geographical position between Russia, Central Asia and Iran, Azerbaijan is a natural transit corridor linking regions and cultures, said Riccardo Puliti, the EBRD’s Director for Transport.
“Developing the country’s road network is a priority for the government of Azerbaijan, with the long term benefits being enhanced trade and regional development,” said Azerbaijan’s Transport Minister, Ziya Mamadov. Azerbaijan asked the EBRD and a number of other financiers to participate in financing the north-south road corridor from Astara (on the border with Iran) to Samur (on the border with Russia).
EBRD finance will be used to improve the north-south road between Sumgait, 28 km north of Baku, and Zarat, 89 km north of Baku. The first 28 km of the road are being rehabilitated using budgetary funds, while the final section, between Zarat and Samur, is being financed by a Czech export bank.
AzerTAj |
| | Innovative Grant to Help Provide Businesses to Poor Azerbaijan Households |
Sep 23, 2005
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The Asian Development Bank (ADB) has approved a US$1.5 million grant from its Japan Fund for Poverty Reduction (JFPR), financed by the Government of Japan, for an innovative project that will help provide income-generating opportunities to poor rural households in Azerbaijan.
Despite the high potential for agriculture-related production in Azerbaijan, growth in economic activities in the rural areas has been limited because of lack of access to financial resources, agricultural inputs, and markets; business skills; and information on market conditions and economic opportunities.
The grant will establish Business Support Service Centers in 10 poor districts that will serve as information hubs for communities to gain business skills and develop new livelihood opportunities. Local Community Savings Groups will be established in each of the 10 districts to help establish a healthier savings and credit culture and to facilitate future access to the formal financial system.
The grant will also provide a community based revolving fund where poor households can access startup capital to put their business ideas and innovations to practice.
"The grant will introduce innovative livelihood development techniques that will help make the project more effective and sustainable," says Lu Shen, an ADB Financial Economist.
"The concept of the revolving fund - where households must repay their borrowed capital to ensure access by another poor household - for example, will instill a greater sense of accountability and ownership in the local communities. The community savings groups will help build confidence in savings and credit again, after the credit union crisis in the country in the 1990s."
The grant complements the ADB-backed Micro and Rural Finance Development Project, which will address the lack of financial outreach in rural areas, by enhancing the ability of rural households to use financial services.
The Government and communities will contribute $337,200 toward the project's total cost of $1,837,200. The Ministry of Economic Development is the executing agency for the project, which will be carried out over four years.
The JFPR was set up in 2000 with an initial contribution of Y10 billion (about $90 million). The Fund now stands at more than $344 million.
The Asian Development Bank is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members, with 45 from the region. In 2004, it approved loans and technical assistance totaling $5.3 billion and $196.6 million, respectively.
Official Press Release of Asian Development Bank |
| | Azerbaijan Government signed two agreements with World Bank |
Sep 17, 2005
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The Azerbaijan government and the structures of the World Bank (WB) signed 2 agreements at the Finance Ministry. The first agreement signed with the International Development Association (IDA) on allotment of a $20m credit installment within the state program on poverty reduction and economic development, the Ministry told Trend. The second one was signed with the International Bank of Reconstruction and Development (IBRD) on allotment of a $299,000 grant within the project on strengthening of electron-governmental purchase and sale. The agreements were signed by Avaz Alakbarov, the Azerbaijani Finance Minister, and Charles Griffin, the WB representative. There are also WB-approved projects with unsigned credit agreements on electric transmission system ($ 48m) and environmental protection in rural places ($8m). The WB is currently financing 18 projects in the amount of $390m in Azerbaijan.
IAA "Trend" |
| | USAID Awards Civil Society Project in Azerbaijan |
Sep 09, 2005
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The U.S. Agency for International Development (USAID) announces a Civil Society project agreement award as part of its expanding technical cooperation with Azerbaijan.
USAID is launching a five-year, $15.5 million project to strengthen civil society organizations’ ability to bring the benefits of economic growth and political pluralism to the Azerbaijani people. The project has a small-grants component of approximately $6 million over five years to support Azerbaijani non-governmental groups. The balance will go to activities such as on-the-job training, in-country and international internships, advisory services, and an improved legal environment.
The goal of this project is to assist the citizens and government of Azerbaijan in developing a more representative and better functioning democracy. The project includes two major components – strengthening the capacity of civil society organizations to effectively advocate their cause, and promoting civic activism by increasing citizens’ ability to identify and prioritize their concerns.
The Civil Society Project will be implemented by the U.S.- based non-governmental organization Counterpart International, which has implemented similar civil society projects in many countries, including the Central Asian republics and Afghanistan.
US Embassy Press Release |
| | EBRD eager to approve railway project by late 2005 |
Sep 05, 2005
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The European Bank for Reconstruction and Development (EBRD) plans to approve a project on financing a project on update of a locomotive park at the Azerbaijan State Railway Department (ASRD) by the end of the year.
Raymond Konway, the head of the Baku Office of the EBRD, said that at the moment the approval of $30-$50m in financing the implementation of the project. The Board of Directors of the EBRD will adopt the project in 2005, while the designing of necessary procedures should be complete for the approval of financing.
A mission of the EBRD Transport Department has recently arrived in Baku in this respect. The government said that the mission will visit Baku once again this autumn. In general, the Azerbaijani government plans to receive financing by November 2005.
The project envisages the reconstruction of the existing locomotive park, purchase of new spare parts, as well as new locomotives.
IAA "Trend" |
| | USTDA plans to expand scopes of assistance to Azerbaijan |
Sep 02, 2005
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The USA Agency on trade and development (USTDA) plans to expand assistance to Azerbaijan. According to the Agency’s Director on Euro-Asia Daniel Stein, expanding of the assistance is expected in a new fiscal year, which starts on 1 October 2005, Trend reports.
"Contracts with the Azerbaijani agencies and ministries show the availability of the potential for extending relations.
We have currently expanded operations beyond the oil and gas sector, collaborating with the Ministries of Economic Development, Communications and Information Technologies, Youth, Sport and Tourism. Our goal is to ensure further dynamic development of Azerbaijan after lowering of oil revenues”, Stein noted.
IAA "Trend" |
| | World Bank, Azerbaijan Agree on Country Assistance Strategy for 2006-2009 |
Sep 01, 2005
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The Azeri government and World Bank have reached a preliminary agreement on Country Assistance Strategy (CAS) for 2006-09. A government source said negotiations were conducted with the WB mission led by senior economist Christos Kostopulos, whose visit to Baku finished on August 31, according to Sharg news agency.
WB subjected its suggestions on the project that can be included in CAS. The Azeri party will consider them and their final coordination will take place in October in the course of WB experts’ next trip to Baku.
Next year WB expects to finance $70 million for projects in Azerbaijan through International Development Association (IDA) that means subsidized funding and $150-170 million through Internal Bank for Reconstruction & Development.
Changes in cooperation with WB will take place in ratio of government’s stake in projects. So far it was 10-15% of project cost and now it can range 30% to 80%. Moreover, country’s participation in projects will increase since 2006.
Thus, volume of foreign borrowing will decrease, but during talks finance minister Avaz Alakbarov emphasized that Azerbaijan is interested
in involvement of international financial institutions, WB in particular, as it allows to establish grave control over realization of projects and effective making of feasibility reports. In addition, WB monitors quarterly the course of project implementation and audits it once a year.
For the next four years of Strategy validity WB expects to fund around $500 million for road construction. The highway projects will be financed on IBRD conditions. Subsidized credits are to be directed for education and health reforms, court and law enforcement bodies, improvement of accounting standards, reconstruction of irrigational & drainage and water-supply systems.
The previous strategy period (2003-05) expired on June 30. For this time WB financed around $200 million for projects, including $48 million on commercial terms.
Sharg News Agency |
| | ADB approves $750,000 for development of Feasibility Study of Alat-Astara highway |
Aug 22, 2005
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The Asian Development Bank (ADB) has allocated a $750,000 grant for the development of a feasibility study f the project in the construction and reconstruction of the Alat-Astara highway, the Transport Ministry told Trend.
At present work over holding of a tender on qualification of a consultant, which would render services during the development of a document. The document is expected to be ready by late this year.
$400m is required for the development of a project on the construction and reconstruction of the 243km Alat-Astara highway. $300m of the budget will be covered by the WB, while the rest $100m will be covered by Azerbaijan ($60m) and Iran ($40m). The Ministry also said that Iran has officially agreed upon approval of a $40m credit for the implementation of the project.
IAA "Trend" |
| | Siemens wins 260 mln. Euro Azeri Power Plant Deal |
Aug 09, 2005
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Germany's Siemens has won a deal worth around 260 million euros ($322 million) to build a power plant in Azerbaijan, its first turnkey power plant to be built in the CIS countries of the former Soviet Union. Siemens's Power Generation unit (PG) said on Tuesday the 500-megawatt plant would be built at an existing power plant site on the Caspian Sea, some 30 kilometres (19 miles) northwest of Baku, and would go into commercial operation in autumn 2007. "With this major order PG will at the same time gain a foothold in the dynamic oil production region on the Caspian Sea," Siemens said in a statement. Siemens said it would supply two gas turbines, one steam turbine and three generators, as well as all of the mechanical equipment required for the seawater-cooled plant to state-owned utility Azerenerji JSC. And it said there was potential to do more business in the Central Asian country's fast-growing economy. "Azerbaijan urgently needs additional power plant capacity. The construction of further new combined cycle power plants is therefore planned in the next few years." Siemens's Power Generation turbines unit made sales of 7.5 billion euros in its fiscal year to September 2004, about 10 percent of Siemens' total revenues.
IAA "Trend" |
| | ADB and Ministry of Economic Development signed Memo on preparation of Sustainable Development Strategy |
Aug 02, 2005
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The Asian Development Bank (ADB) and the Ministry of Economic Development have signed on August 2 a Memo of understanding on the technical assistance project.
The document was signed by the minister of economic development of Azerbaijan Farhad Aliyev and the head of ADB’s Baku mission Matthew Westfall. The main goal is rendering by ADB a technical assistance to prepare a long time project on sustainable development in accordance with the State
program on poverty reduction and economic development (SPRED). The SPRED secretariat is executive of the project which cost $ 1million 850 thousand.
AzerTAj |
| | ADB ready to allot $300 mln. to road projects in Azerbaijan |
Jul 30, 2005
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The Asian Development Bank (ADB) is ready to finance projects on road construction in Azerbaijan. The ADB prefers projects on the construction of the southern roads, but it is ready to finance the reconstruction and construction of any highway.
The ADB plans to allot funds not less granted by the International Bank of Reconstruction and Development (IBRD). The IBRD intends to finance the Alat-Astara motor highway at $300 million.
The total length of the Azerbaijani roads comprises 24,000 km with 6,000 km highway and 18,000 km local ones. The reconstruction and the construction of the highways in Azerbaijan demand more $2 billion.
IAA "Trend" |
| | World Bank to grant $ 55 mln. loan for healthcare reforms in Azerbaijan |
Jul 28, 2005
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Minister of Health of Azerbaijan Ali Insanov and Head of the Public Health Reform project manager Enis Bari have met to talk about the granting of a $55 mln-loan by the World Bank for the healthcare reforms in Azerbaijan. These funds will be spent on building health centers (hospitals and ambulance stations) in five regions of Azerbaijan.
All the centers would be equipped with modern medical facilities, Ali Insanov said.
The implementation of the project will commence next year. Repayment of the 50- year interest-free loan will begin in 2015.
AzerTAj |
| | EU plans implement 12 projects more in Azerbaijan |
Jul 13, 2005
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The European Union (EU) plans to implement 12 projects more in Azerbaijan, the EU’s Baku Office, told Trend.
They are projects of reconstruction and reformation of the Azerbaijani Cabinet of Ministers, application of international accountancy standards, establishment of the securities market, reformation of legal system, and establishment of a special working group on reformation of transport sector.
The organization also plans to implement projects on institutional aid to the Ministry of Economic Development, assistance to reformation of state deals system, improvement of tax system, assistance to Ministry of Fuel and Energy, regional projects of environment.
IAA "Trend" |
| | EBRD allots $100m for road project |
Jun 28, 2005
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The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved $100m under the project on financing the upgrade and reconstruction of road section from Sumgayit to Zarat settlement of the highway from Baku to Azerbaijani border with Russia, the EBRD will allocate credit for 15 years with 3-year grace period under LIBOR+1% rate.
The EBRD will finances the section of 197km-long Baku-Samur highway from 28th km to 89th km. The rest part of the route will be financed at the expense of the Czech bank Eximbank, which allotted $180m for the implementation of the credit allotted for 14 years with 4-year grace period and LIBOR+0.6% rate. The total budget of the project is $280m.
The beneficiaries of the EBRD assistance will be the Department for Road-Transport Services of the Azerbaijani Transport Ministry, which handles and serves to 18,723km automobile routes in the country. Under the project it is planned to create 4-6 regional branches of the Department, service level agreement was set up, which would enable to attract local potential to road work. Control over the distribution of such contracts will be implemented by the Road Advisory Board. Technical assistance will be attracted for the development of contracts.
IAA "Trend" |
| | Azerbaijan Government, German Bank sign grant agreement |
Jun 27, 2005
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The Azerbaijani government and German bank for reconstruction signed a grant agreement on Monday. The document was undersigned by the Azerbaijani Minister for Economic Development, Farhad Aliyev, and the Deputy head of KfW’s Department for Water and Infrastructure in East Europe, Kurd Fon Radenau.
Aliyev noted that grant was allocated for the project on reconstruction of water supply systems of Ganja and Shaki cities. The 1.5m euro grant will be allotted in three equal installments.
An agreement on approval of the first part of the grant (511,000 euros) was signed on Monday. The funds were directed at the development of a feasibility study of the project. The total budget of the project is 54m euro, of which 15m euro will be approved for 35 as a privileged loan, 7m will be covered by the Azerbaijani government and rest funds by SECO. The German government will also allocate 5m for financing the deposit insurance fund.
Thus far Germany has rendered 134.6m euro financial aid and 26m euro in technical assistance. The project expires in autumn 2005.
IAA "Trend" |
| | Czech Export Bank allots $180m credit to Azerbaijan |
Jun 21, 2005
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The Czech Export Bank has approved $180m credit for Azerbaijan under the reconstruction of the automobile routes. It was announced in a Tuesday meeting of the permanent parliamentary commission on economic policy, which discussed a document on "Adoption of a credit agreement between Azerbaijan and Czech export bank on financing the project on reconstruction of a 208km long automobile route from Baku to the Russian border, Trend reports.
The credit agreement was signed by the Azerbaijani Ministry of Finances and Czech Export Bank. "The Czech Export Bank approved $180m and the European Bank for Reconstruction and Development - $100m. Around 1.3m will be spent on the construction of each kilometer of a four-stripe and two-side highway," Javid Gurbanov, the head of the Negliyyatservis Department of the Transport Ministry, told Trend.
After the discussions the documents was passed to the parliament.
IAA "Trend" |
| | ADB may allocate $ 40 million in Social Project |
Jun 11, 2005
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The Asian Bank of Development (ADB) considers the opportunity for allocating a new credit of $40 million to Azerbaijan. The credit may be allocated for the development of the social infrastructure of regional centers, the country director, Matthew Westfall told Trend.
"We hope to get approval on this loan in the middle of the next year”, Westfall noted. According to him, for realization of the project researches will be carried out, aimed at the identification of the projects, for which implementation investments may be used, in particular, the ABR plans to finance the projects for improvement sanitation conditions, municipal infrastructure, water supply, repair and rehabilitation of roads and etc.
IAA "Trend" |
| | Azerbaijan receives grants, credit to support Rural Environment |
Jun 09, 2005
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The World Bank today approved a Rural Environment Project for Azerbaijan. The total amount of the project is US$17.72, including a US$8 million IDA credit from the Bank, a US$5 million grant from the Global Environment Facility (GEF), and a US$2.72 million Japan Policy and Human Resources Development Fund (PHRD) grant. The project will help to improve biodiversity conservation and introduce more sustainable natural resource management and economic activities in two mountainous areas of Azerbaijan, to restore the ecological health and productivity of the areas' natural forests and pastures.
While the overall economy in Azerbaijan is improving as a result of oil development, the situation in mountainous areas, where most people fall under the poverty line, is still difficult. With the end of the provision of reliable, highly subsidized gas and electricity following independence, many rural households have turned to wood from State forests for their energy needs.
This is resulting in rapid deforestation as demand for wood fuel exceeds sustainable annual fuel wood by tenfold in some areas.
The Rural Environment Project will consist of three main components. The first component, Protected Area Establishment and Management, will support the legal establishment of the Shah Dag National Park, the expansion of Ordubad National Park, the creation and strengthening of modern park management institutions and systems, and the development and implementation of park management plans. It will also assist in the management of other types of protected areas surrounding the two national parks.
The second component, Community Level Investment in Sustainable Agriculture and Natural Resource Management, will help communities within and next to the two national parks to adopt more modern agricultural methods and more sustainable use of natural resources. This will result in less pressure on the natural ecosystems.
The third component, Rural Enterprise Development, aims to stimulate economic diversification in the areas through providing financial and technical support to local entrepreneurs.
"Creation of the national parks and other protected areas will help to protect the biodiversity of these very important mountain ecosystems, while also helping local communities to achieve better and more sustainable livelihoods through tourism and other types of economic activities," said Agi Kiss, head of the World Bank team designing the project.
By the time the project is completed, the Shah Dag National Park will have been established, covering about 113,000 hectares. Ordubad National Park will be enlarged to about 43,000 hectares, and a plan will be in place for establishing additional, less restrictive protected areas on some of the surrounding lands.
In addition to these improvements, 9000 hectares will be covered by tree planting activities. Other project targets include at least 20% of households in participating villages adopting more modern and productive livestock husbandry practices, and the initiation of 150 or more environmentally friendly and financially sound Small and Medium Enterprises. The project also aims to increase public awareness and understanding of, and support for, national parks and protected areas.
"The project demonstrates the importance of the rural environment to the sustainable development of Azerbaijan, and the support of the international community towards that end, as exemplified by the cooperation of IDA and GEF,"
said Ahmed Jehani, World Bank Country Manager in Azerbaijan.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$711 million for 29 operations.
The Global Environment Facility (GEF) is a mechanism for providing new and additional grant and concessional funding to meet the agreed incremental costs of measures to achieve agreed global environmental benefits in four focal
areas: climate change, biological diversity, international waters, and ozone layer depletion. GEF also supports the work of global agreements to combat desertification and eliminate persistent organic pollutants.
The World Bank Group is one of GEF's implementing agencies, and it supports countries in preparing GEF co-financed projects and supervises their implementation. It plays the primary role in ensuring the development and management of investment projects. The Bank draws upon its investment experience in eligible countries to promote investment opportunities and to mobilize private sector, bilateral, multilateral, and other government and non-government sector resources that are consistent with GEF objectives and national sustainable development strategies.
Since 1991, the World Bank Group has committed $1.972 billion in GEF resources and $3.037 billion in Bank group co-financing for GEF projects in 80 countries.
In addition to GEF and Bank resources, it has mobilized additional co-financing of $6.952 billion from other donors.
Official Press Release of World Bank |
| | Siemens Signs Contract to Build Power Station in Azerbaijan |
May 31, 2005
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The German electronics giant Siemens signed a 257-million-euro (323-million-dollar) contract with Azerbaijan's state power company Azerenergy to build a power station in Sumgait early last week.
"At present we do not have the ability to fully supply the country with electricity," the media quoted Azerbaijan's Deputy Prime Minister Yaqub Eyubov as saying at the signing ceremony. "The construction of this station will partially help solve this problem," he added.
Etibar Pirverdiyev, head of Azerenergy, said that the building of the power station will begin at the end of June or July 2005. The project is scheduled for completion in the fourth quarter of 2007.
The project will be financed by Germany's Bayerische Landesbank and France's BNP Paribas. The Societe Generale is the creditor of the construction of the new steam and gas project, which has a 506 MW capacity.
According to the information provided by Azerenergy, at present, the average electricity consumption in Azerbaijan is estimated at 55 million kilowatt-hours. The new projects will add about 10-20 percent to the gross capacity of the country's power system.
Azerbaijan currently imports 3 million kilowatt-hours from Russia and 1.1 million kilowatt-hours from Iran and Turkey each. However, from a mid-term perspective, the country may refuse Russian electricity imports. Azerbaijan export 400,000 kilowatt-hours of electricity to Russia and 4.6 million kilowatt-hours to Iran to compensate for supplies to the enclave of Nakhchivan during the winter.
"In 2007, Azerbaijan may revise the electricity balance and if the country meets its demands, we will stop importing energy from Russia," Pirverdiyev said.
From AFP and CBN reports |
| | Azerbaijan: World Bank Supports Power Sector |
May 18, 2005
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The World Bank yesterday approved a US$48 million Power Transmission Project, the first IBRD loan made to Azerbaijan. The project will improve the reliability, quality and cost-effectiveness of the electricity supply in the country through investments improving management and performance of the high-voltage transmission network.
Azerbaijan’ s power sector has performed poorly over the last decade. The system has deteriorated due to lack of funds, and it currently does not meet the domestic electricity demand. Many areas of the country receive restricted amounts of electricity and experience frequent localized outages and occasional widespread system failures. In addition, the sector is not yet financially viable due to tariff levels below costs and low payment collections, and no adequate private sector funding is available to the country for the full rehabilitation of the system. With the Power Transmission Project, the Bank would help fill in the funding gap and complement sector reforms that are being supported through the Bank’ s adjustment operations.
"The cooperation with the Government and with the power utility Azerenerji has been excellent, and we look forward to efficient implementation of the project. In fact, preparations for the procurement of major project components are well under way," said Bjorn Hamso, head of the World Bank team that has helped Azerbaijan authorities design the project.
The Power Transmission Project will consist of three main components. The first component, Power Transmission Management, will upgrade the electricity dispatch system in the country, which in turn will support more reliable, secure and economic operation of the electricity sector and facilitate financial settlements in a future wholesale electricity market. The second component, Transmission Network Rehabilitation, will cover priority investments in rehabilitation of high voltage transmission lines and selected high-voltage substations. Under the third component, Management Assistance, technical assistance will be provided to improve the management systems of Azerenerji and prepare the company for a future restructured energy sector.
"This project will provide a building block to the improvement of the electricity system of the country, which is expected to have a positive impact on the investment in the power sector as a whole," said Ahmed Jehani, Country Manager for Azerbaijan.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$646 million for 27 operations.
Official Press Release of World Bank |
| | World Bank Approves Poverty Reduction Support Credit for Azerbaijan |
May 18, 2005
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The World Bank yesterday approved the First Poverty Reduction Support Credit (PRSC I) in the amount of US$20 million for the Republic of Azerbaijan. The objective of this adjustment operation is to support the Government's efforts to carry out reforms as defined in the country's State Program on Poverty Reduction and Economic Development (SPPRED).
Since the 1990s, Azerbaijan has been carrying out a large-scale reform program to establish a market-based economy, ensure macroeconomic stability, and improve public management. These efforts have widely been supported by the World Bank and the IMF. The Second Structural Adjustment Credit (SAC II), approved in 2002, has helped the Government pass a new Budget Systems Law; enact a new procurement law and adopt its implementation mechanisms; establish the Chamber of Accounts as the supreme auditing institution; adopt a governance and management framework for the Oil Fund; and reduce implicit subsidies in the electricity, gas, and water sectors.
The PRSC will deepen the reform agenda supported by SAC-II through supporting the implementation of measures to further improve public governance and more effective use of public resources; improving the overall business environment for private sector development and investment; and strengthening financial discipline and service delivery in the utility and social sectors.
The PRSC is structured around the four Strategic Goals of the Country Assistance Strategy to Azerbaijan, reflecting the Government¡¯s reform
priorities:
* Managing the oil boom to maintain macroeconomic stability, avoid "Dutch disease" and facilitate non-oil growth, employment and pro-poor expenditures
* Generating jobs and sustainable non-oil growth by improving the business environment and access to financial services, building SME support infrastructure, and stimulating agriculture
* Improving access to services and infrastructure by reversing the decline in social services and assistance and in infrastructure
* Realizing oil and gas potential to the extent and in the time frame that SPPRED presumes
* Implementing the SPPRED: monitoring outcomes and institutional capacity building ensuring the sustainability of the reforms remains in the forefront.
It is expected that the reforms supported by PRSC would lead to the improvement of the business environment and investment climate, which will in turn directly contribute to stimulating growth and creating jobs, particularly in the non-oil sector. It will also lead to more efficient and effective allocations in sectors that have a major fiscal and social impact (i.e., education, rural, health, social protection) and more equitable access to delivery of quality public services; and increased transparency and accountability of public finances through improved public expenditure management and strategic allocation of resources through medium-term budget planning, as well as strengthened procurement and audit functions.
"Azerbaijan has put on track many policy reforms, and now the PRSC is the Government's vehicle to consolidate the reform efforts into a coherent program aimed at poverty reduction through promoting private sector development, improved delivery of social services, and transparency in public expenditure, all within a participatory framework," said Ahmed Jehani, Country Manager for Azerbaijan.
The PRSC has been provided on standard IDA terms with maturity of 35 years, including a 10-year grace period.
Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total approximately US$646 million for 27 operations.
Official Press Release of World Bank |
| | Ministry of Communication of Azerbaijan to Sign Agreement about Allocation of Loan for Development of Post System |
May 17, 2005
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Within the framework of program of development of financial services by the World Bank the agreement about allocation of loan for development of post system of Azerbaijan is to be signed 24 May in Baku.
The Trend agency reports, deputy chief of post department of the Ministry of Communication and information technologies Novruz Mammadov informed, the documents are to be signed by the minister of communication and information technologies Ali Abbasov on behalf of Azerbaijan party and regional director on Azerbaijan Dona Dauset on behalf of the World Bank.
«It is quite possible, singing is to be held in Baku office of the World Bank», the Ministry of communication indicated.
The Ministry indicates, finances on project may be presented during summer this year and it will be allocated step-by-step depending on project of crediting. After realization of the project "Azerpocht" will receive corresponding status and it will be included into national system of payments for realization of financial, bank services etc. As a result of conducted measures within frames of the project opening of 1000 new working places is expected.
This project is to be realized within frames of the state program on development of telecommunication system in Azerbaijan for 2005-2008. Total cost of 2-year project is $17,5 mln, loan in amount of $12,25 mln is to be allocated by the WB, and Azerbaijan government is to finance the rest part.
Trend |
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 | Recent news and events |
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| Jun 25, 2009 |
| World Bank Approves Additional Financing for Azerbaijan’s Highway Program |
| | Jun 24, 2009 |
| World Bank Supports Public Investment Capacity Building Project in Azerbaijan |
| | Apr 20, 2009 |
| Azerbaijan and the World Bank sign additional financing for the Azerbaijan Rural Investment Project |
| | Jan 08, 2009 |
| EBRD invests in Azerbaijani bank card services provider Millikart |
| | Dec 17, 2008 |
| Azerbaijan and the World Bank sign loan agreement for additional financing for Highway II project |
| | Oct 02, 2008 |
| The Tacis contractor on investment climate in Azerbaijan to be determined in end-October |
| | Jul 25, 2008 |
| World Bank may increase allocations into Azerbaijan economy |
| | Jun 17, 2008 |
| World Bank Approves $164 million for Absheron Environmental Clean-Up Program in Azerbaijan |
| | Apr 11, 2008 |
| World Bank Approves Railway Trade and Transport Facilitation Project for Azerbaijan |
| | Apr 04, 2008 |
| Germany has signed finance agreement with Azerbaijan |
| | Apr 02, 2008 |
| World Bank to assist Azerbaijan in Master Plan Development |
| | Feb 28, 2008 |
| World Bank loan for Financial System Modernization Project in Azerbaijan to amount $10 million |
| | Jan 28, 2008 |
| KfW agreed a conception of real estate registration project in Azerbaijan by own scheme |
| | Dec 12, 2007 |
| World Bank to render assistance to housing & public utility reform in Azerbaijan |
| | Dec 12, 2007 |
| Azerbaijan changes WB programme on financial system modernization |
| | Dec 10, 2007 |
| Japan Bank for International Cooperation (JBIC) Finances $260 Million for Water-supply System Upgrade in Azerbaijan |
| | Nov 07, 2007 |
| EBRD Provides $207 Million for Rehabilitation of AzDRES Power Plant in Azerbaijan |
| | Nov 02, 2007 |
| Azerbaijan Ready to Receive $30 million ADB Loan for Alternative Power Project |
| | Oct 09, 2007 |
| ADB Providing Credit to SME Sector in Azerbaijan |
| | Oct 02, 2007 |
| ADB Approves $500M Loan Facility for Azerbaijan's Road Network Program |
| | Aug 17, 2007 |
| World Bank and Azerbaijan Government Sign Loan Agreement on National Water Supply and Sanitation Project |
| | Jul 27, 2007 |
| Signing of the Real Estate Registration Project Loan Agreement |
| | Jul 21, 2007 |
| European Union allots 92 m Euros to Azerbaijan |
| | Jul 14, 2007 |
| World Bank approved the loan allocation into Azerbaijan E- Government project |
| | Jun 14, 2007 |
| World Bank Supports Improvement of Water Supply and Sanitation Services in Azerbaijan |
| | May 28, 2007 |
| EBRD to finance re-location of cargo terminal from Baku Sea Port |
| | May 24, 2007 |
| EBRD and Azerbaijani Government sign Memorandum on support of Baku-Tbilisi-Kars railway project |
| | Apr 10, 2007 |
| ADB to Confirm a Multitranche Package for Road Projects in Azerbaijan |
| | Mar 07, 2007 |
| World Bank sets up study for possible approval of 3rd loan for Education in Azerbaijan |
| | Jan 09, 2007 |
| World Bank determined the volume of annual credits granted to Azerbaijan from IBRD |
| | Dec 18, 2006 |
| World Bank assistance to upgrade Azerbaijan Financial Sector |
| | Nov 24, 2006 |
| ADB plans to lend $500 million to Azerbaijan |
| | Nov 20, 2006 |
| Asian Development Bank has increased financing of Alat-Astara Road Reconstruction Project |
| | Oct 16, 2006 |
| European Neighborhood Policy budget amounts to ˆ 17.2 mln. for Azerbaijan |
| | Oct 04, 2006 |
| Azerbaijan and World Bank concluded Credit Agreement regarding Court System Modernization Project |
| | Sep 18, 2006 |
| World Bank to carry out estimation of Land Cadastre Project in Azerbaijan |
| | Aug 17, 2006 |
| Azerbaijan to attract over US$ 1billion to road building in 2006-2008 |
| | Jul 14, 2006 |
| World Bank offers $500 mln for development of transport infrastructure in Azerbaijan |
| | Jun 30, 2006 |
| World Bank's Board of Directors approved three projects for Azerbaijan |
| | Jun 16, 2006 |
| KfW to Boost Credit Portfolio in Azerbaijan by Euro 50-60 mln. |
| | May 22, 2006 |
| The World Bank's healthcare project is evaluated on $79 mln |
| | May 22, 2006 |
| The World Bank will lend $20 mln in new ecological project |
| | May 15, 2006 |
| Azerbaijan and World Bank will sign loan agreement on motorway project |
| | May 15, 2006 |
| The Bank KfW submitted technical specification on ecology project in Azerbaijan |
| | Apr 25, 2006 |
| World Bank issues $28 mln credit for second phase of agricultural project |
| | Apr 23, 2006 |
| World Bank to finance three more projects in Azerbaijan in 2006 |
| | Apr 18, 2006 |
| World Bank completes evaluation of judicial system reforms project |
| | Apr 13, 2006 |
| Asian Development Bank ready to allot funds to develop professional technical education in Azerbaijan |
| | Mar 28, 2006 |
| World Bank supports Azerbaijan in the fight against avian flu |
| | Mar 07, 2006 |
| Kuwaiti Fund to allot credit for reconstruction of Kurdamir-Ujar motorway |
| | Mar 01, 2006 |
| ADB to increase volume of crediting in Azerbaijan almost by 30% in 2007 |
| | Mar 01, 2006 |
| World Bank supports rehabilitation of Azerbaijan irrigation and drainage infrastructure |
| | Feb 28, 2006 |
| World Bank agreed to fund individual project on Azerbaijan Land Cadastre establishing |
| | Feb 23, 2006 |
| ADB to adopt Azerbaijan assistance strategy on 2007-2010 |
| | Feb 13, 2006 |
| World Bank to allocate up to $20 million for judicial and legal systems reforming in Azerbaijan |
| | Jan 30, 2006 |
| World Bank and Azerbaijan to finalize 2006-2009 partnership strategy discussions |
| | Jan 18, 2006 |
| European Bank ready to continue funding of road projects in Azerbaijan |
| | Jan 17, 2006 |
| World Bank supports better, safer roads in Azerbaijan |
| | Jan 16, 2006 |
| World Bank and Azerbaijan Government start development of 2nd stage of agriculture project |
| | Jan 11, 2006 |
| JBIC bank to monitor existing and discuss new projects in Azerbaijan |
| | Dec 15, 2005 |
| UNDP partners with ADB and the Government in Azerbaijan to reduce poverty and develop the regions |
| | Dec 12, 2005 |
| World Bank to allocate $170m credit for Alat-Astara project |
| | Nov 22, 2005 |
| AT&T EMEA and CL has signed a new contract |
| | Nov 14, 2005 |
| World Bank to set up a new project in water sector in Azerbaijan |
| | Nov 14, 2005 |
| “Alliance of Cities” project to start in November |
| | Nov 09, 2005 |
| Government of Azerbaijan & International Bank for Reconstruction and Development Sign Loan Agreement |
| | Nov 03, 2005 |
| Azerbaijan joins PREGA project |
| | Oct 31, 2005 |
| 1 million Euro allocated for distant learning development project to Azerbaijan |
| | Oct 31, 2005 |
| EU increases Tacis budget for Azerbaijan to 22m euro |
| | Oct 21, 2005 |
| WB plans to finance water, gas projects |
| | Oct 15, 2005 |
| EBRD allocates $3.5m credit to 2 Azeri banks |
| | Sep 30, 2005 |
| EBRD lends $100 million for Azeri roads |
| | Sep 23, 2005 |
| Innovative Grant to Help Provide Businesses to Poor Azerbaijan Households |
| | Sep 17, 2005 |
| Azerbaijan Government signed two agreements with World Bank |
| | Sep 09, 2005 |
| USAID Awards Civil Society Project in Azerbaijan |
| | Sep 05, 2005 |
| EBRD eager to approve railway project by late 2005 |
| | Sep 02, 2005 |
| USTDA plans to expand scopes of assistance to Azerbaijan |
| | Sep 01, 2005 |
| World Bank, Azerbaijan Agree on Country Assistance Strategy for 2006-2009 |
| | Aug 22, 2005 |
| ADB approves $750,000 for development of Feasibility Study of Alat-Astara highway |
| | Aug 09, 2005 |
| Siemens wins 260 mln. Euro Azeri Power Plant Deal |
| | Aug 02, 2005 |
| ADB and Ministry of Economic Development signed Memo on preparation of Sustainable Development Strategy |
| | Jul 30, 2005 |
| ADB ready to allot $300 mln. to road projects in Azerbaijan |
| | Jul 28, 2005 |
| World Bank to grant $ 55 mln. loan for healthcare reforms in Azerbaijan |
| | Jul 13, 2005 |
| EU plans implement 12 projects more in Azerbaijan |
| | Jun 28, 2005 |
| EBRD allots $100m for road project |
| | Jun 27, 2005 |
| Azerbaijan Government, German Bank sign grant agreement |
| | Jun 21, 2005 |
| Czech Export Bank allots $180m credit to Azerbaijan |
| | Jun 11, 2005 |
| ADB may allocate $ 40 million in Social Project |
| | Jun 09, 2005 |
| Azerbaijan receives grants, credit to support Rural Environment |
| | May 31, 2005 |
| Siemens Signs Contract to Build Power Station in Azerbaijan |
| | May 18, 2005 |
| Azerbaijan: World Bank Supports Power Sector |
| | May 18, 2005 |
| World Bank Approves Poverty Reduction Support Credit for Azerbaijan |
| | May 17, 2005 |
| Ministry of Communication of Azerbaijan to Sign Agreement about Allocation of Loan for Development of Post System |
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