BAKU, Azerbaijan, October 4. The World Bank (WB) is working with the government of Azerbaijan on implementation of three projects, Representative of WB Zaur Rzayev told Trend.
"The first projects is being implemented with the Ministry of Justice of Azerbaijan. This is a long-term project aimed at construction of new infrastructure, transfer of judicial processes to digital format. The second project is being implemented with State Agency of Azerbaijan Automobile Roads on the construction of Salyan-Bilasuvar highway. The cost of this project is estimated at $70 billion.The third project with Ministry of Labour and Social Protection of Population of Azerbaijan is to support the self-employment program. Loans for these projects have been allocated for a period of 10-16 years," he said.
According to Rzayev, the WB can finance the cost of projects in their entirety or as a part of co-financing with the government or other partners.
He also noted that Azerbaijan received loans under the terms of International Development Association until the early 2000s, i.e. interest-free loans on which only a loan service fee of 0.75 percent was imposed.
"At this stage, the cooperation of the World Bank with Azerbaijan is more focused on the exchange of knowledge and experience and technical assistance," Rzayev added.
The World Bank and Azerbaijan implemented 52 projects for a total amount of almost $4 billion.
