The World Bank (WB) has approved the AzRIP-2 project of agricultural investments in Azerbaijan, Trend reports.
About 1.5 million people in Azerbaijan will gain access to infrastructure and social services.
The project is worth $53.6 million, $30 million will be provided by the International Bank for Reconstruction and Development (IBRD), $23.6 million by the Azerbaijani government. The project will increase income for 600,000 farmers, improve irrigation for 700,000 people and provide drinking water for 150,000 people.
The WB has provided $3.1 billion for 43 projects in Azerbaijan.
The new project is a sequel of the first one. The first one was realized in 2012, the second on will be realized in 2012-2017. The first one affected 45 districts, the new one will cover 56 districts.
The AzRIP loan deal was signed on September 23, 2004, coming into force on December 29, 2004. The project is worth $21.1 million, $15 million of the sum belongs to the International Development Association, $3.3 million are Japanese governmental grants, the rest was paid by own government and communities.
