The World Bank-Azeri Government Partnership Strategy (2006-09) is still passing procedures within the bank and WB Directors Council is not reviewing it today, Trend reports with reference to WB Baku office.
В"The work is going on as it took more time than expected and the question of strategy approval will become clear in short. Moreover, it is suggested to improve the document in technical respectВ", said WB representatives.
The strategy was supposed to be discussed at WB Directors Council on September 7. Non-completion of the banking procedure might yet be linked to the annual session of WB and IMF executives taking place September 14 to 16 in Singapore.
Earlier one of the reasons for delay of the partnership strategy approval, apart from the time required to define next years preferential credits amount for Azerbaijan, was the delay in approval of the State Program for Poverty Reduction and Sustainable Development. This program is still being examined in the government. WB was going to put this strategy alongside the State Program for approval to the Council of Directors.
The strategy is estimated at approximately $1.2bn, from which $79.4mln will be are issued for the year 2007 as preferential credits through International Development Association and the remainder via the International Bank for Reconstruction and Development.
According to the partnership strategy, next year the bank is funding the projects related t education, accounting upgrade, water supply and drainage systems, railroad network development and cadastre registration.