WASHINGTON- The following project was approved today by the World Bank’s Board of Executive Directors:
IDA Credit Amount: US$11.5 million TERMS: Grace period = 10 years; Maturity = 35 years
PROJECT DESCRIPTION: This project aims to improve living conditions, enhance economic opportunities and prospects for social integration for IDPs. Azerbaijan’s armed conflict with Armenia over the Upper Garabagh region, which lasted from 1992 to 1994, left over 30,000 dead and over 1 million people displaced. This project consisted of two main components: micro-projects and micro-credits The first component will finance the preparation and implementation of up to about 200 small-scale projects (average cost about US$50,000) to rehabilitate, repair or reconstruct basic small infrastructure, social infrastructure and temporary shelter facilities. Under the second component, which is completely funded from the counterpart funding resources, financing to Partner Lending Institutions will be provided for the extension of micro-credits to IDPs. By the time the project is completed, IDP communities will have benefited from new improved basic small infrastructure (water supply and sewage networks, electricity distribution networks, access roads and drainage systems), social infrastructure (schools and community centers), and temporary shelter facilities. IDPs will also have benefited from access to micro-credit for income-generation activities. For more information, please call Erik Nora at (202) 458-4735, or email enora@worldbank.org.Or visit: http://web.worldbank.org/external/default/main?pagePK=64027221&piPK=64027220&theSitePK=301914&menuPK=301947&Projectid=P089751 |
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