BAKU, Azerbaijan, September 9. Since Azerbaijan
became a member of the World Bank, a total of approximately $4.9
billion in financing has been allocated under the partnership for
53 projects.


This was stated during a meeting between Minister of Finance of
the Republic of Azerbaijan Sahil Babayev and a World Bank
delegation comprising Roland Price, World Bank Regional Director
for the South Caucasus, and Sasha Bakès, the bank’s new Country
Manager for Azerbaijan.


The meeting addressed the current state and prospects of the
long-term and strategic partnership between Azerbaijan and the
World Bank. The sides exchanged views on jointly implemented
projects, public financial management reforms, as well as
opportunities to expand cooperation.


Minister Sahil Babayev highly praised the World Bank’s continued
support for Azerbaijan’s development priorities and reform agenda,
noting that the long-standing partnership makes an important
contribution to the country’s socio-economic development,
strengthening its institutional capacity, and supporting reforms
carried out in various areas.


It was noted that cooperation between Azerbaijan and the World
Bank covers a wide range of areas, including infrastructure,
energy, transport, agriculture, water resources management,
employment, and institutional reforms. Thus, since Azerbaijan
became a member of the World Bank, a total of approximately $4.9
billion in financing has been allocated under the partnership for
53 projects.







At the same time, drawing attention to Azerbaijan’s growing role
in the international development agenda, the Minister of Finance
said that after attaining upper-middle-income country status,
Azerbaijan had increased its support for international development
initiatives as a donor.


In turn, R. Price emphasized the importance of the long-term
cooperation established between Azerbaijan and the World Bank, and
highly praised the socio-economic achievements and reforms carried
out by Azerbaijan in recent years. She stated that the World Bank
is ready to continue supporting Azerbaijan’s development and reform
agenda, as well as to expand mutual cooperation in new areas.


Sahil Babayev congratulated Sasha Bakès on her appointment as
the World Bank’s Country Manager for Azerbaijan and wished her
success in her work. The Minister expressed confidence that the new
Country Manager would make an important contribution to the further
development of cooperation between Azerbaijan and the World
Bank.