BAKU, Azerbaijan, September 10. Azerbaijan's
Central Bank and the World Bank discussed their cooperation and
ongoing technical assistance projects.
According to the CBA, the discussions took place during a
meeting between CBA Chairman Taleh Kazimov and a World Bank
delegation led by Rolande Pryce, Regional Director for the South
Caucasus.
The meeting covered the current state of cooperation between
Azerbaijan and the World Bank, implementation of measures outlined
in the Country Partnership Framework, ongoing investment projects
and future cooperation prospects.
During the meeting, Kazimov congratulated Sasha Bakes, the newly
appointed World Bank Country Manager for Azerbaijan, and wished him
success in his new role. The sides also exchanged views on
cooperation between the Central Bank and the World Bank, as well as
technical assistance projects being implemented.
Earlier, World Bank Regional Director for the South Caucasus,
Rolande Pryce told Trend that the World Bank was working on two new
projects in Azerbaijan focused on agriculture and irrigation, as
well as environmental improvement initiatives in Baku. “We are
currently actively preparing two projects. The first concerns
agriculture and irrigation. We are working with the Ministry of
Agriculture on a program that will help implement the new state
program for the sector’s development,” Pryce said.
According to him, the project is expected to be submitted for
consideration by the World Bank’s Board of Executive Directors in
mid-2027.
Pryce also said that the World Bank was preparing the “Livable
Baku” project, which envisages the restoration of lakes and the
rehabilitation of areas contaminated as a result of previous oil
production activities. “We expect to complete it and submit the
project to the Board of Directors for consideration in the first
half of 2027, tentatively in March or April,” he noted.
Since Azerbaijan joined the World Bank, a total of around $4.9
billion in financing has been allocated for 53 projects under the
partnership framework.
