Azernews.Az

World Bank (WB) regional director for the South Caucasus Henry Kerali will arrive in Baku to participate at events being held on the occasion of the 20th anniversary of cooperation between the World Bank and Azerbaijan, WB Baku Office told Trend news agency on Monday.

"A photo exhibition dedicated to WB projects in the country is to be held on Dec. 14 after which a ceremony will be held on the same day," the bank said.

According to the information, a press conference on the World Bank's activities in Azerbaijan will be held in late December or early January 2013.

Azerbaijan has been a WB member since 1992.

"The World Bank tried to help the country overcome the challenges it faced during its development during its 20 years of cooperation with Azerbaijan," WB Acting Country Manager for Azerbaijan Saida Bagirli said earlier. "Betweeen1992-1995, the main challenge was to combat inflation which then stood at 1.300 per cent. Later the challenges were related to the development of a strategy for managing oil revenues. Then, there were the issues of diversifying the economy."

She said the World Bank is implementing the country's strategy.

"We are now analysing the results of the first two years, determining the work for the next two years and intend to discuss these issues with the civil population," Bagirli said.