Azerbaijan seeks deeper ties with World Bank for infrastructure, energy projects Photo

Azerbaijan is keen to pursue new projects in collaboration with the World Bank, particularly in the fields of transport, energy, water supply and sanitation, among other sectors.

Finance Minister Sahil Babayev made this statement during a meeting with Roland Price, the World Bank’s Regional Director for the South Caucasus, and Ivana Duarte, Head of the International Finance Corporation (IFC) for the region, Caliber.Az reports via local media.

Discussions focused on the implementation of World Bank-financed projects in Azerbaijan, cooperation with the IFC, and various aspects of the country’s economic development strategy.

Price highlighted the approval of the World Bank’s Partnership Strategy with Azerbaijan for the next five years, which envisions projects spanning multiple sectors in the country. She also noted that the Bank could support Azerbaijan in improving fiscal rules, budget legislation, and budget classification, as well as in drafting a new accounting law.

Babayev underscored Azerbaijan’s strong commitment to cooperation with the World Bank Group and reiterated the country’s interest in launching new projects with the financial institution.

Both sides acknowledged the solid level of cooperation between Azerbaijan and the World Bank, engaging in extensive discussions on issues of mutual interest.

By Aghakazim Guliyev