Azernews.Az

By Aynur Jafarova

The World Bank is interested in supporting economic projects implemented in Azerbaijan.

This remark was made during a meeting held between Azerbaijani President Ilham Aliyev and a delegation led by World Bank Vice President for Europe and Central Asia Laura Tuck on November 4.

During the meeting, the sides noted that Azerbaijan and the World Bank maintained fruitful cooperation.

The parties stressed the importance of a further optimization of the economic activity in Azerbaijan, large-scale reforms in the service sector, as well as work carried out by "ASAN Xidmet" established in the country.

They also exchanged views on prospects of cooperation between the relevant authorities of Azerbaijan and the World Bank.

Azerbaijan has been a member of the WB since 1992. Total liabilities of the bank to the country have amounted to over $3 billion on 54 projects during this period. About $1.7 billion was allocated to the implementation of the road-transport projects.

The largest loan worth $670 million was allocated for improvement of the railway infrastructure and in particular, the reconstruction of the track on the Baku-Boyuk Kesik border with Georgia section.

The World Bank also finances the modernization and rehabilitation of road sections of the existing East-West and North-South corridors, namely the Alat-Masalli third highway, rehabilitation of the Kurdamir-Ujar section of the Baku-Georgian border highway, rehabilitation of the Baku- Shamakhi road, reconstruction of the road from Tagiyev settlement to the Sahil settlement bypassing Baku, Hajigabul-Bahramtepe road and expansion of the Baku-Shamakhi/Muganli highway.