Event to mark 20th anniversary of cooperation between WB and Azerbaijan held

 

An event celebrating 20th anniversary of cooperation between the World Bank (WB) and Azerbaijan has been held.
The event featured the period of cooperation beetween Azerbaijan and the World Bank.
Touching uopn the 20 years relations, Deputy Prime Minister Abid Sharifov highlighted that “the Azerbaijani government is confident in the continuation of effective cooperation with the World Bank”.
“The World Bank has played an important role in the economic success of Azerbaijan during the past 20 years. Since joining the WB in 1992, the World Bank commitments to Azerbaijan total approximately US$ 3 billion in 56 projects. During this period, the World Bank granted $42 million to Azerbaijan, which was sent to the preparation of projects, feasibility studies, training and etc." Sharifov said.
Chairman of the Central Bank of Azerbaijan Elman Rustamov spoke about the important role of WB in Azerbaijan`s economy, saying that “the major focus of the World Bank's work to date has been to assist Azerbaijan by providing policy advice, financing for both investments the government budget, and coordination of aid. In particular, the World Bank is working with the authorities to strengthen the government's institutional capacity to manage its petroleum resources and formulate key policy changes to accelerate reform.
"Azerbaijan is the third borrower of the bank in the South Caucasus and Central Asia," Rustamov added.
Deputy ICT Minister Iltimas Mammadov has represented a stamp being issued on the occasion of the 20th anniversary of cooperation between the World Bank and Azerbaijan.
The World Bank`s logo, as well as a numeral 20 were demonstrated at the postage. A phrase “Azerbaijan - World Bank. 20 years - partnership for development” was written on it.
Within the event, a video and photo exhibition dedicated to WB projects in the country were also demonstrated.
Azerbaijani Finance Minister Samir Sharifov was also present at the event.

AzerTAc

 


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