World Bank approves 11m-dollar loan for Azeri refugees

Bilik Dunyasi news agency
17 Feb 05

Baku, 17 February: The Board of Directors of the World Bank [WB]
has approved the project “Assistance to economic development of
internally displaced persons [IDPs]”.

The 11.5m-dollar project envisages improving living conditions, as
well as the social situation of people who became IDPs in the wake
of Armenia’s occupation of Azerbaijani lands and accelerating their
integration into society.

A total of 200 micro credits each totalling around 50,000 dollars will
be allocated to IDPs within the framework of the project in order to
better their socio-economic situation.

The credits will be allocated to Azerbaijan for a period of 35 years,
including the first 10 years on favourable terms.

Azerbaijan has received loans worth about 620m dollars for 25 projects
since it became a member of the WB in 1992.