Publisher: Xinhua News Agency
Story date: 16/11/2011
BAKU, Nov. 16 (Xinhua) Azerbaijan and the World Bank on Wednesday signed an agreement for a loan of 50 million U.S. dollars to finance the Internally Displaced Persons (IDPs Living Standard and Livelihood Project in the central Asian country.
According to the report of AzerTAc, Azerbaijan's state news agency, the agreement was signed by Ali Hasanov, Deputy Prime Minister of Azerbaijan and Chairman of State Committee of Azerbaijan for Refugees and IDPs, and the World Bank's representative Saida Bagirli in Baku.
The project, which is subject to conditions of the European Bank for Reconstruction and Development (IBRD) approved by the World Bank Director Board on Oct. 27, aims to support Azerbaijani Government's efforts to improve living conditions and increase the economic self-reliance of targeted internally displaced persons.
The government will allocate an additional 28.5 million dollars for the project, which will require a total of 78.5 million dollars. About 185,000 internally displaced persons (IDPs) in Azerbaijan will have better access to infrastructure, services, housing conditions and livelihood opportunities with the help of the project.
Azerbaijan accounts of seven percent of the IDPs in the world, as a result of the conflict with Armenia over the Nagorno Karabakh region. Up to 50 percent of its IDPs still live in harsh conditions.
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