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Azerbaijan has achievements in field of financial management

25 October 2023 08:00 (UTC+04:00)
Azerbaijan has achievements in field of financial management
Abbas Ganbay
Abbas Ganbay
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"The government of Azerbaijan has achievements in financial management," Stefanie Stallmeister, country manager of the World Bank for Azerbaijan, said at the third Sustainable Development Goals (SDGs) Dialogue on the topic "Results of the Global Summit on SDGs 2023 and the Role of Supreme Financial Control Bodies in the Implementation of the SDGs," Azernews reports.

According to her, work is being done on the budget project in Azerbaijan: "We cooperate with the Ministry of Finance. We can share examples in this field in Azerbaijan with other countries."

Stallmeister said that there are certain problems in the evaluation of the SDG, and as in other countries, Azerbaijan cannot avoid these problems either.

Further, the World Bank is a global financial organization that provides financial assistance and technical advice to governments to reduce poverty and achieve equal prosperity. Although it is known as the World Bank, its full official name is the International Bank for Reconstruction and Development (IBRD). That is, the basis of the World Bank's activity is not to make a profit but to support countries in economic and social development.

Azerbaijan has been a member of the World Bank since 1992. Over the past 30 years, the World Bank has allocated more than 4 billion US dollars to Azerbaijan to finance more than 50 projects.

These projects covered various fields: education, health, pension and social protection, water and sanitation, energy, transport infrastructure, agriculture, irrigation, environment, justice, finance and private sector development, and public sector modernization.

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