Azerbaijan, World Bank mull future cooperation
By Aynur Karimova
Azerbaijan and the World Bank have discussed the current cooperation and future prospects, as well as programs and projects implemented by the bank in the country.
The discussions were held between President of the Central Bank of Azerbaijan Elman Rustamov and World Bank Regional Director for the South Caucasus Mercy Tembon on September 15.
Rustamov stressed the role of the World Bank in supporting economic reforms in Azerbaijan.
He said that amid global macroeconomic volatility and regional challenges the cooperation with the World Bank should be focused on the priority areas of the Country Partnership Framework, which was developed jointly with the Azerbaijani government.
The CBA official also expressed confidence that Tembon would continue the World Bank’s successful cooperation with Azerbaijan and the effectiveness of joint activities would increase in the future.
Tembon, in turn, highly appreciated reconstruction and development programs, social and economic reforms, and large-scale infrastructure projects implemented in Azerbaijan over the past 20 years.
She noted that given the existing level of cooperation between Azerbaijan and the World Bank, and current global challenges, she would exert her best efforts to further strengthen this cooperation.
Tembon also said that she would endeavor to continuously expand the World Bank’s support to Azerbaijan.
Azerbaijan joined the World Bank in 1992. The World Bank loans to the country have totaled over $3 billion for 55 projects over this period. Currently, the World Bank investment portfolio in Azerbaijan includes 16 projects with a total commitment of $2 billion.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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