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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