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 Press release - World Bank Supports Cultural Heritage In Azerbaijan (WB)

 Press release date: 12.05.1999

  FOR IMMEDIATE RELEASE 
 
The World Bank
Europe and Central Asia Region
News Release No. 99/2180/ECA

Contact: Gina Ciagne (202) 458-4166
Email: Gciagne@worldbank.org

WORLD BANK SUPPORTS CULTURAL HERITAGE
IN AZERBAIJAN

WASHINGTON, May 13, 1999The World Bank today approved a US$7.5 million equivalent (SDR5.6 million) credit for a Cultural Heritage Support Project in Azerbaijan. The project will enhance awareness of, and support for, Azerbaijans culture and will help strengthen national identity and social cohesion at a difficult time of national transition.

The project will enhance Azerbaijans capacity to conserve and restore its historical cultural monuments, some of which play an important role in Azerbaijans history and which are in imminent danger.

The four sites for conservation and, where appropriate, restoration, are the Shirvanshah Palace, the Sheki Palace of Khans, and the Karabaglar, and Momine Khatum Mausoleums. All of the sites have been ranked as being of international value under a project financed by UNESCO. They are significant landmarks, within a national sense, but also within a context of their surroundings, either as part of ancient cityscapes or pastoral villages. People identify with the sites culturally and personally.

The project consists of the following two components:

  • Support for the conservation and partial restoration of four priority sites; and
  • Strengthening the capacity of the agencies involved in the preservation and restoration of historical monuments.

The total cost of the project is US$8.9 million, of which the government will contribute US$1.4 million. The credit will be disbursed on standard IDA terms and will be repayable in 35 years, including a 10-year grace period. Since Azerbaijan joined the World Bank in 1992 and IDA in 1995, commitments total approximately US$318 million for 10 loans.

 



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