Azerbaijan , Baku, Aug.8 / Trend, N. Ismayilova /
The World Bank (WB) senior economist on Azerbaijan, Rashmi Shankar, arrived in Baku to facilitate preparatory work for the Second Forum on Azerbaijan's long-term economic development , the WB Baku Office said on Monday.
The mission said that the visit's goal is to discuss general macroeconomic issues. Shankar will remain in the country until Aug. 19.
The WB plans and the government of Azerbaijan plan to hold the Second Forum on Azerbaijan's long-term economic development in Baku on Oct.17-18. The main issues to be discussed are improvements in the business climate in Azerbaijan and the formation of viable institutions necessary for a market economy.
As a result of the first forum on Azerbaijan's long-term economic development, which took place on Oct. 21, 2009, an agreement was reached to prepare an action plan which will provide for economic diversification, further development, and holding a future forum for progress assessment.
Azerbaijan has been a WB member since 1992. Until now, the bank has allocated $2.9 billion to Azerbaijan to finance 43 projects. This puts the country in third place in the world in terms of a portfolio, after Turkey and Kazakhstan.