Azerbaijan: Poverty Reduction Support Credit

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

IDA GRANT AMOUNT: $20 million

TERMS: Grace period = 10 years; Maturity = 35 years

PROJECT DESCRIPTION: The objective of the Poverty Reduction Support Credit is to develop and implement policies and structural reforms that are consistent with and supportive of the Government’s poverty reduction and economic strategy.  The Credit is structured around three components reflecting Government’s reform priorities: create non-oil sector economic opportunities and jobs; increase accountability and improve governance; and promote social inclusion and improve service delivery. For more information, please call Miriam Van Dyck at (202) 458-2931, or e-mail mvandyck@worldbank.org  For project information documents, visit: http://web.worldbank.org/external/default/main?pagePK=64027221&piPK=64027220&theSitePK=362340&menuPK=362374&Projectid=P074938