23.Jun .2021 22:00

Azerbaijan Rejects World Bank Loan for COVID Emergency Response

Azerbaijan Rejects World Bank Loan for COVID Emergency Response
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The Azerbaijani side has shown interest in attracting concessional credit resources within the fast track COVID-19 facility, provided by the World Bank (WB) to all countries in the fight against coronavirus infection, and began negotiations, spokesperson for the Azerbaijani Finance Ministry Mais Piriyev told Report.
 
“However, because the directions, conditions, and procedures for the allocation of the loan did not suit the Azerbaijani side, these negotiations were suspended, and the World Bank was informed of this. At present, obtaining this loan is not on the agenda,” Piriyev noted.

The WB planned to allocate $95 million to implement the COVID emergency response project in Azerbaijan. The approval of the loan at the bank’s Board of Directors was scheduled for September 6.

Under the terms of the project, it will support the Azerbaijani government in containing the spread of the COVID-19 pandemic, strengthening the health system to detect and treat cases, and mitigating some of the social impacts of the pandemic.

The project’s implementation was calculated for two years.