Azerbaijan Country Update #13
September 2007
24 September 2007
Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Azerbaijan.
Azerbaijan Country Updates provide information about recent developments, decisions, and civil society activities related to International Financial Institution (IFI) involvement in Azerbaijan including that of the World Bank (WB), International Finance Corporation (IFC), International Monetary Fund (IMF), European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB). If you would like to be included in or removed from the distribution list, please e-mail the moderator, George Holliday, at . Correspondence with BIC may be conducted in Russian.
The Bank Information Center (BIC) partners with civil society in developing and transition countries to influence the World Bank and other international financial institutions (IFIs) to promote social and economic justice and ecological sustainability. BIC is an independent, non-profit, non-governmental organization that advocates for the protection of rights, participation, transparency, and public accountability in the governance and operations of the World Bank, regional development banks, and IMF. For more information about BIC, see www.bicusa.org.
I. IFI Project Activities
EBRD approves syndicated loan to Bank Respublika in Azerbaijan
EBRD is arranging US$24 million syndicated loan to Bank Respublika, the first syndicated loan provided to the bank in its 15 year history. Bank Respublika is a leading private and independent bank in Azerbaijan. EBRD will provide up to $6 million while the remainder will be provided by participating commercial banks.
World Bank approves National Water Supply and Sanitation Project for Azerbaijan
On June 14, 2007, the World Bank approved a US$230 million project for improvement of water and sanitation services in Azerbaijan. This project will continue the work of the Greater Baku Water Supply Project (GBWSP), completed recently. The states project goals are to improve the water supply and sanitation services in twenty regional centers in Azerbaijan.
EBRD will provide financing to Azerigazbank
The Bank has announced that it will offer a finance package to Azerigazbank. It will provide a US$6 million credit line for lending to micro-, small-, and medium-sized enterprises in Azerbaijan. Additionally, the Bank has agreed to expand its involvement with Azerigazbank under the Trade Facilitation Program.
II. IFI Consultations and Policy Updates
EBRD approves new Country Strategy for Azerbaijan
On 18 September, the EBRD approved a new Country Strategy for Azerbaijan.
2007 Annual Meetings of the European Bank for Reconstruction and Development
- Update 15 May 2007 (BIC Website)
2007 Annual Meetings of the Asian Development Bank
The Asian Development Bank marked its 40th year of operation in Kyoto, Japan.
- Update 7 May 2007 (BIC Website)
III. Civil Society Activities
Central Asia NGO forum on ADB issues comments to Asian Development Bank, 20 September 2007
On 20 September 2007, the CA NGO Forum on ADB issued comments on Long-Term Strategic Framework and other documents.
NGO Forum Comments (ENG) (Acrobat PDF, 36 KB)
NGO Forum Comments (RUSS) (Acrobat PDF, 234 KB)
Civil society compares ADB safeguard policies with peer institutions
- Update 20 September 2007 (BIC Website)
ADB completes consultation process on draft Energy Strategy
The ADB completed the consultation process on its draft Energy Strategy on 27 July 2007. There was a 60-day comment period after the draft’s release.
- Update 17 August 2007 (BIC Website)
ADB releases draft Energy Strategy
On 28 May 2007, the ADB released its draft Energy Strategy for a 60-day comment period.
- Update 7 June 2007 (BIC Website)
Azerbaijan's Extractive Industries Transparency Initiative (EITI) Experience
A special session on the Azerbaijani EITI experience was held during the 14th Annual International Caspian Oil and Gas Conference in Baku, Azerbaijan. The event took place on 7 June 2007 and included speakers such as the Chairman of the Azerbaijani EITI Committee and the Azerbaijani Minister of Industry and Energy.
NGOs organize panel discussion on ADB Safeguards Policy
- Update 17 May 2007 (BIC Website)
EBRD begins civil society engagement in review of its environmental policy
On 11 May 2007, the EBRD released a Discussion Paper outlining its new environmental policy. There is a 45-day comment period for civil society before the EBRD prepares a draft of the policy.
- Update 15 May 2007 (BIC Website)
Life Along the Pipeline: BTC’s Impact on Azerbaijan
Eurasianet provides an overview of the lives of residents of Azerbaijan, Georgia, and Turkey. In this bulletin, the impact of the BTC project on Azerbaijan.
- Bulletin 15 March 2007 (UNDP Azerbaijan Website)
Azerbaijan discloses fifth EITI report
Azerbaijan publishes its fifth Extractive Industries Transparency Initiative report.
Civil Society Points to Weak Transparency of ADB Safeguards Policy Update
- Update 8 February 2007 (BIC Website)
EITI Azerbaijan publishes final report on revenue use monitoring project
A final report of a revenue monitoring project implemented by Oil Workers Rights Protection Organization and Free Economy Assistance Center was published in 2007.
IV. Additional Resources
Previous Country Updates and related reports can be found on BIC’s website on the Azerbaijan page. These reports are available in English and in Russian.
Human Rights Watch (HRW) makes recommendations for EBRD Country Strategy Report for Azerbaijan
Progress toward some MDGs slow in Central Asia and South Caucasus
An ADB expert said progress toward achieving some Millennium Development Goals (MDGs), particularly those related to HIV/AIDS, environment, and water management, in the region has slowed down. This update came prior to the MDG Forum for Central Asia and the Southern Caucasus, held July 19-20 in Bishkek, Kyrgyzstan.
World Bank releases governance indicators report
On 10 July 2007, the World Bank released Governance Matters, 2007: Worldwide Governance Indicators 1996-2006. Azerbaijan’s score in Voice and Accountability, which measures freedoms a country’s citizens may enjoy, including free media and participation in government selection, was recorded as decreasing.
World Bank releases report on facilitating economic growth in Eastern Europe and Central Asia
The new report, Fiscal Policy and Economic Growth: Lessons for Eastern Europe and Central Asia, was released July 2, 2007. The Bank study concludes that public spending and tax reforms can encourage economic growth in the region.
Interview with the Executive Director of the State Oil Fund of Azerbaijan, Shahmar Movsumov