Mission of World Bank to come to Baku

According to the information given to APA from Baku representative office of WB, the purpose of the visit is to hold official talks over credit treaty in the frames of "State program over decreasing poverty and economical development in Azerbaijan". After the talks are over the project will be presented to the Council of Directors for being approved. If the processes go according to the schedule, the first credit trench of 20 million dollars in the frames of mentioned project may be shared at the end of March or beginning of April.

It must be mentioned that, the main matters over the program have already been agreed on. In the meetings held in the frames of last visit of C.Peterson to Azerbaijan in January discussions around the budget of Caspian Sea Navigation Office and approving of official registration procedures of juridical persons by the Ministry off Justice were held. Generally in the program the share of 60 million dollars totally in 3 trenches being 20 million in each is considered. First credits will be shared with 0.75% for 35 years 10 of which will be preferential. It must be mentioned that totally 3 billion dollars is needed for the realization of the program in 2005. 1.7 billion of it is considered to be ensured by external sources and 1.3 billion by internal.