WB to give more funds for Azerbaijan projects

The World Bank (WB) has approved the allocation of additional funds to implement two projects in Azerbaijan, TREND news agency reported.

Loans worth US$100 million and US$50 million will be provided through the International Bank for Reconstruction and Development (IBRD) to implement the Judicial Services and Smart Infrastructure Project (JSSIP) and Azerbaijan Rural Investment Project (AzRIP).

The judicial services project will be implemented by Dec 31, 2018.

"The modernisation of Azerbaijan's judiciary can play a vital role in the country''s economic development in the future," said Henry Kerali, World Bank's director for South Caucasus.

The project will among other things support judicial infrastructure, establish more effective methods of dispute resolution, enhance business inspection systems and improve legal aid services to citizens.

The rural investment project has empowered rural people to take agreed decisions in identifying and addressing priority development needs of their communities, said Kerali.

"The additional funding will enable the project to expand into new regions that have high concentrations of internally displaced persons to reduce their vulnerability and foster growth," he said.

An extra US$86.56 million are needed to continue a second phase of the project.

Bakudaily.az