Azerbaijan

Internally Displaced People (IDP) Economic Development Support Project: Restructuring (Vol. 1 of 2): Main report

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IDP ECONOMIC DEVELOPMENT SUPPORT PROJECT

RESTRUCTURING PAPER

SUMMARY

The proposed changes involve responding to the request of the Ministry of Finance of the Government of Azerbaijan to process a reallocation of proceeds under Credit 4935 AZ in support of the Internally Displaced Persons (IDP) Economic Development Support Project (P089751).

The proposed reallocation involves transfer of funds of SDR 240,000 (USD 380,000 equivalent) from Category (5) ‘Unallocated,’ to Category (2) ‘Consultant’s Services Including Audit’ as set forth in the table in Section IV of Schedule 2 to the Financing Agreement. The reasons for requesting a reallocation of funds are: i) higher than expected costs for consultant services under the current IDP-EDS project due to the large number of consultant services required for the technical design of more than 250 small-scale micro-projects in a range of sectors; ii) the need to contract consultants to undertake feasibility studies and preparatory work for a proposed new project, the IDP Living Standards and Livelihoods Project.