Azerbaijan: Corporate and Public Sector Accountability Project

WASHINGTON, March 27, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors:

IDA Credit: US$11 Million

TERMS:  Maturity= 35 years; Grace= 10 years

PROJECT DESCRIPTION: The main aim of the project  is to strengthen accountability and transparency in financial reporting for the public and corporate sectors in line with international best practices. The key beneficiaries are the Public Interest Entities including State-Owned Enterprises, the Chamber of Accounts (the country’s supreme audit institution), the Chamber of Auditors (the country’s auditing services regulator and standard-setter), the Ministry of Finance, and accounting and auditing professionals and stakeholders in Azerbaijan.

For more information, please call Mike Jones at (202) 473-2588 or emailmjones2@worldbank.org