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World Bank provides loans to Azerbaijan and Belarus

March 29, 2016, 9:48 UTC+3 WASHINGTON
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WASHINGTON, March 29. /TASS/. The World Bank Board of Directors decided on Monday to allocate loans to Azerbaijan and Belarus in the amount of $140 mln and $10 mln, respectively, according to the World Bank’s press service.

Belarus received the funds for the modernization of a budget management system. Implementation of this project includes "improving fiscal transparency", among other things.

Azerbaijan will receive the current loan as an additional financing for the repair project of the road network in Azerbaijan. It is expected that these funds will be allocated, in particular, to the expansion of individual sections of Baku - Shamakhi highway (from two to four lanes).

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