ECONOMY


WB TO ALLOCATE CREDIT FOR AZERENERJY

In the course of negotiations held with the delegation of World Bank, it was confirmed the readiness of this financial structure to continue its active cooperation with Azerbaijan in the field of implementation of the energy projects.

WB is ready to allocate credit in 40 mln dollars for project “System of electricity transmission”, main aim of which is modernization of the power system.

The credit is allocated for 15 years, 5 of which to be lax under 3-4 % of annual. Funds are expected to receive in spring 2004.

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