WB hopes to take part in Azerbaijan’s long-term development plans
The World Bank hopes to contribute to the development of the "Azerbaijan 2020" concept, WB Acting Country Manager for Azerbaijan Saida Bagirli has said during a workshop on oil-rich nations.
"The World Bank tried to help Azerbaijan during the 20 year-cooperation with this country to overcome the challenges it faced during its development," she said. "The main challenge was combating the inflation in 1992-1995, which then reached 1,300 percent. Later the challenges were related to the development of a strategy for managing oil revenues, and then the diversification of the economy."
She said the WB is implementing a strategy on the country. "We are now analyzing the results of the first two years, determining the work for the next two years and will discuss these issues with the civil society," Bagirli said.
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