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Saturday, June 30, 2001
ARRA economizing credit means
According to the director of the Agency for Reconstruction and Rehabilitation of Azerbaijan (ARRA) Ali Mammadov, the agency is trying to economize the credit means provided by the World Bank and the Islamic Development Bank. Thus, only $10 million has been spent of the WB’s credit of $20 million. Similarly, half of the IDB funds has been saved, which has been possible due to lesser expenses and control over expenditure, he said. The economized funds will enable the agency to expand the geography of rehab operations.*
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