12:05 - 13.12.2019

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December 13, Fineko/abc.az. The Azerbaijani government refused to use the remaining part of World Bank’s loan for the IDP Living Standards & Livelyhoods project, and the date of the project completion was postponed from 31 December 2020 for the end of 2019.

ABC.AZ reports that this information was distributed by the WB.

Thus, at the request of the Azerbaijani side the Bank canceled the payment of the unused part of the loan in the amount of $51.196 million: "After the termination of the project, the financing of future works will be carried out at the expense of the State Budget of Azerbaijan".

In January 2019 the Azerbaijani government asked the WB to suspend the project and return the remaining amount of the loan. For this time the WB calculated the volume of work to be completed within the loan with taking into account the expected cancellation of part of the loan: "Thus, $15.504 million was used from the WB loan of $66.7 million given for financing the four components of the project.”