BAKU, Azerbaijan, October 30. Azerbaijan's Finance Minister, Sahil Babayev, received a World Bank delegation led by Asad Alam, Regional Director for Prosperity in Europe and Central Asia, who is visiting Azerbaijan, Trend reports.
The meeting discussed expanding cooperation between Azerbaijan and the World Bank, financial management and fiscal policy, and areas for potential partnership.
Sahil Babayev noted that Azerbaijan attaches great importance to its partnership with the World Bank. The Bank's financial support, technical expertise, and recommendations have significantly contributed to the development of key areas such as infrastructure, education, healthcare, and public administration. This cooperation has also contributed to progress in energy, transport, social services, sustainable development, and macroeconomic stability.
During the meeting, special attention was paid to the implementation of the "Strengthening Capacity for the Medium-Term Fiscal Framework in Azerbaijan" project, which is being implemented by the World Bank with financial support from the Swiss State Secretariat for Economic Affairs (SECO). The parties discussed proposals submitted by the Ministry of Finance regarding a public finance review, digital solutions, information systems assessment, and capacity building.
It was noted that as part of the digital solutions and information systems assessment, the World Bank mission will conduct a diagnostic analysis at the Ministry. This will identify existing gaps and outline areas for further development to establish the architecture of a Unified Public Finance Management Information System.
In turn, Asad Alam praised the Azerbaijani government's efforts to improve financial management and fiscal policy, emphasizing that the successful implementation of this project will significantly contribute to increasing the efficiency and sustainability of public finance management.
During the meeting, the parties expressed confidence in the further expansion of the partnership between Azerbaijan and the World Bank and exchanged views on other issues of mutual interest.
