BAKU, Azerbaijan, January 19. Azerbaijani
officials and representatives of the World Bank (WB) met to assess
the current state of their partnership and explore opportunities
for expanding cooperation, Trend reports, citing the country's Ministry of
Economy.
The meeting was attended by Samad Bashirli, Deputy Minister of
Economy, and a delegation led by Sameh Wahba, Regional Director for
Sustainable Development of the WB’s Europe and Central Asia
region.
During the meeting, Azerbaijan’s ongoing socio-economic reforms
and efforts to improve the business and investment climate were
highlighted. The importance of the WB’s institutional and technical
support in these areas was also emphasized.
Participants exchanged views on projects implemented with the WB
and discussed issues of mutual interest, focusing on strengthening
collaboration and exploring future opportunities.
Azerbaijan became a World Bank member in September 1992, signing
the Articles of Agreement for the IBRD on September 18. The World
Bank established a local office in 1996, and the first loan for the
Petroleum Technical Assistance Project was approved on April 20,
1995. Azerbaijan also joined the IFC in October 1995. Since then,
the World Bank has financed over 50 projects in Azerbaijan,
amounting to more than $4.5 billion to enhance economic reforms and
infrastructure development.
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