World Bank Assistance to the Legal Sample Clauses

World Bank Assistance to the Legal. The World Bank is assisting in the drafting of a new Civil Code together with the relevant procedure regulations as well as the institution development aspect that will be needed afterwards such as developing the courts. In this field the World Bank cooperates with the German Agency for Technical Cooperation (GTZ).GTZ is providing the expertise Prof. from Bremen who has already drafted the Civil Code for the neighboring countries of Georgia and These countries are interested in having the same legal environment, which would make economic cooperation easier. It is expected that the draft of the civil law and civil law procedures will be passed by the Azerbaijani parliament next spring, and could come into force one year later. World Bank Public Sector Reform Project This project is a key effort to modernize the country’s administration system. It is a long term approach and will concern many public institutions. The credit line is a project already in place. Several banks have received credit lines to produce credits for SME’s. These are the Bank and the Rabita Bank. IFC is assisted by Shorebank. This technical assistance component is sponsored by The selected local banks originate and assess the original loan applications, and make credit recommendations to Shorebank. Shorebank reviews the application and can veto the bank’s recommendation. The idea is that Shorebank supervises and at the same time trains the local banks to assess and to administer IFC credits for Shorebank also actively monitors borrowers, via joint assessment and monitoring missions. In cases which look uncomplicated Shorebank and the local bank visit the project at least once every three months. Most are visited every month, hut more difficult projects are visited weekly. So far, 29 credits have been issued with average of $47,000.
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