OREANDA-NEWS. October 02, 2009. The Azerbaijani government and the World Bank have conducted overview of portfolio of joint projects in Baku.

The Baku-based WB resident office reports that the discussion bore constructive character.

“At the session the sides coordinated a range of measures aimed at fastening the process of spending of the Bank’s loans by Azerbaijan. The parties will also prepare and sign a relevant Protocol of Measures,” the Bank said.

The WB notes that percentage of spending the WB financing in Azerbaijan is one of the lowest. The country’s government indicates that spending volume of Bank’s finances has increased much but because of fastened expansion of portfolio itself the share of spent part has reduced against overall portfolio.

At the same time WB portfolio on Azerbaijan approaches rapidly to US3 bn.