Azernews.Az

The World Bank is expanding the scope of its programs implemented in Azerbaijan, the head of the WB office in Baku said.
Gregori Yedzherchak said in a meeting with representatives of the Azerbaijan Women Journalists Union that the bank mainly funds infrastructure programs considering their impact on the country`s sustainable development. He said that even if an advanced political system is in place and legislation is properly enforced, the condition of roads also plays a great role, as investors will never come to a country with underdeveloped infrastructure.
"Azerbaijan is a country with the most deplorable infrastructure among former Soviet states. We are talking not just about widening the narrow roads but building non-existent roads," Yedzherchak said.
He continued that the criticism over Azerbaijan`s getting into foreign debt at a time the country is receiving a windfall of oil revenues was unfounded.
"If natural resources solved everything, wealthy nations would be poor now, and the other way round. But this is not the case," Yedzherchak said.
The WB executive added that the influx of revenues was not at all a deciding factor in ensuring a successful activity of the society and state.