Azerbaijan, World Bank deepen ties on energy, transport projects

Azerbaijan's Minister of Finance Sahil Babayev has met with Rolande Pryce, the World Bank’s Regional Director for the South Caucasus, to discuss the expansion of cooperation across key sectors, including energy, transport, green development, and infrastructure.

The meeting focused on the current state of cooperation between Azerbaijan and the World Bank, joint projects in the energy and transport sectors, and future priority areas, Caliber.Az reports via local media.

The sides also exchanged views on expanding cooperation in sustainable urban development and infrastructure within the framework of the 13th session of the World Urban Forum (WUF13), currently underway in Baku.

Minister Babayev said cooperation with the World Bank makes an important contribution to Azerbaijan’s socio-economic development, noting that the partnership is advancing across key areas including the energy transition, transport connectivity, infrastructure modernization, social protection, employment, and institutional reforms.

Highlighting energy cooperation, he stated that the AZURE project holds a special place in Azerbaijan’s green energy transition strategy. He noted that work under the project continues to support the integration of renewable energy sources into the national power transmission system and the expansion of electricity grid infrastructure.

Referring to the Regional Connectivity and Development project implemented with World Bank support, Babayev said the completion of the Salyan–Bilasuvar road corridor reconstruction is important for strengthening regional connectivity and improving logistics infrastructure. He also pointed to potential financing opportunities for the reconstruction of the Bilasuvar–Astara section of the M3 highway, stressing the strategic importance of regional transport corridors in enhancing economic integration.

In turn,  Rolande Pryce praised the development of cooperation between Azerbaijan and the World Bank, noting interest in further expanding collaboration in energy infrastructure, climate resilience, green development, social protection, employment, and human capital development. She also underlined that the World Bank’s participation in WUF13 is significant for strengthening partnerships in sustainable urban development and infrastructure.

The sides emphasized the importance of continuing dialogue between Azerbaijan and the World Bank to define future strategic directions of cooperation.

By Vafa Guliyeva