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Thursday, March 22, 2018

WB to endorse $300 million for Azerbaijan government

The government of Azerbaijan said on Wednesday that the World Bank is prepared to endorse a coordinated $300 million loan package for the country on July 9.

In May, Azerbaijan and the World Bank completed negotiations on additional financing for the a national water supply and sewage services program (NWSSP), a rural investment program (AzRIP), and the the "Judidical Services and Smart Infrastructure Project" (JSSIP) supplementing the Juridical Modernization Project (JMP), reports.

The bank will allocate $150 million for NWSSP, to which the government will add $83 million. The bank's investments for AzRIP-2 will total $50 million, while the government's will provide $30 million. The largest project will be JSSIP, with $100 million allocated by both the bank and the government.