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Lesson
The project highlighted the importance of safeguarding the nation’s wealth fund (State Oil Fund of the Republic of Azerbaijan or SOFAZ) to ensure that social programs and development priorities are sustained. In times when the nation’s wealth fund can be compromised due to external factors, exploring and pursuing viable funding options to meet the government’s financial obligations can ease pressures on the use of the fund other than its intended purposes.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
Clarity of all provisions in the loan and grant agreements and proactive assistance in consultant recruitment and other areas where executing and implementing agency (EA/IA) capacity is lacking will mitigate the risk of startup delays.

Project Number: 42361-013, 42361-014
Project Name: Medium-Voltage Sub-Transmission Expansion Sector Project and Additional Financing
Report Date: