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 Press release - Press Statement Of The World Bank Office In Azerbaijan (WB)

 Press release date: 27.03.2000

  FOR IMMEDIATE RELEASE 
The World Bank
Office in Azerbaijan

News Release No. 2000/022/AZ

Contact: Saida Bagirova (994-12) 921-941
Email: Sbagirova@worldbank.org
Leyli Bektashi (994-12) 922-807
Email: Lbektashi@worldbank.org

PRESS STATEMENT OF THE WORLD BANK OFFICE IN AZERBAIJAN

BAKU, 28 March 2000 There has recently been a misleading coverage by the media of World Bank activities in Azerbaijan. A reference was made to a delay of the first tranche of a $ 60 million World Bank credit. At present, the World Bank does not have an ongoing adjustment credit. There is no tranche awaiting release, consequently there is no delay in tranche release to speak of.

The Structural Adjustment Credit I (SAC I) was fully disbursed in early 1999. Since that time, World Bank teams have been working with the Government of Azerbaijan on the preparation of a second adjustment credit in support of a comprehensive Public Sector Reform Program. According to the original schedule, the credit was scheduled to be submitted to the World Banks Board of Directors in December 1999 for approval. The progress in the preparation of the reform program and reaching understandings on a number of reform measures has been slower than originally planned. Therefore, the World Bank has not been able to proceed with the approval of the credit. World Bank teams continue working with the Government of Azerbaijan to complete the preparation of the reform program and the second structural adjustment credit.



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