WB Baku office names new head
By Trend
Naveed Hassan Naqvi was appointed the new head of the World Bank’s (WB) office in Azerbaijan, Trend reported.
Naqvi began his career at the WB in 2004 and has worked in the South Asia, Europe and Central Asia regions, where he has led both analytical work and lending operations.
The exact date when Naqvi will take the office is not known yet, but according to preliminary information, he will be introduced to the Azerbaijani government in October 2016.
The office term of the WB’s previous country manager for Azerbaijan, Larisa Leshchenko, expired in late June.
The WB’s country manager is usually appointed for a period of three years, but this term can be extended for one more year.
Azerbaijan joined the WB in 1992.
As of Sept. 1, 2016, the WB has allocated $3.99 billion worth of loans to Azerbaijan.
These funds have been directed for financing of more than 70 projects. Azerbaijan has used about $2.9 billion or 72.56 percent of all loans allocated through the WB. Moreover, in 1995-2014, the World Bank allocated 45 grants worth $41.586 million for Azerbaijan.
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