The government of Azerbaijan and the World Bank are ready to extend cooperation within the adapted crediting program (ACP-1) "Crediting and development of agriculture in Azerbaijan”.
The government is to take a decision on extending the cooperation with the World Bank within ACP shortly, the Cabinet of Ministers of Azerbaijan told Trend.
"Preliminary consultations with the bank have been already held and they voiced readiness to carry on cooperation at the ACP new stage”, the Cabinet of Ministers pointed out.
ACP-1 has been approved by the Board of executive directors of the bank on 8 June 1999 in the amount of $33,6 million for 4 years ($3,6 million out of which is the share of the Azerbaijan’s government) with the bank’s possible funding up to $100 million for 10 years.
The loan agreement on ACP-1 was signed on 4 October, and the program’s implementation started on 21 December 1999. АCP-1 was extended till 30 September 2005.
