Azerbaijan, World Bank discuss investments

Azerbaijan’s Economy Minister Mikail Jabbarov and World Bank (WB) Manager for Azerbaijan Stefanie Stallmeister have discussed issues of investment promotion, strengthening cooperation, joint projects, as well as measures to diversify the economy and improve the business environment.

“During the meeting with Stefanie Stallmeister, the World Bank’s Country Manager for Azerbaijan, we discussed ways to enhance the collaboration between the Bank and our country. We also touched upon joint projects, initiatives aimed at diversifying the Azerbaijani economy and enhancing the business environment, as well as the promotion of investments,” Jabbarov tweeted, Caliber.Az reports.

During the meeting with Stefanie Stallmeister, the World Bank’s (@WorldBank) Country Manager for Azerbaijan, we discussed ways to enhance the collaboration between the Bank and our country. We also touched upon joint projects, initiatives aimed at diversifying the Azerbaijani… pic.twitter.com/5VLLBwZiwC

— Mikayil Jabbarov (@MikayilJabbarov) August 9, 2023

Noting the successful cooperation between Azerbaijan and the WB, the minister praised the Bank's projects on technical and financial assistance.

He also noted that ties with the Bank have a multi-vector character.

Cooperation with the WB in the areas of innovation, digital development, renewable energy sources, diagnostics of the private sector, improvement of management technologies and other areas is of particular importance in terms of using advanced international experience in Azerbaijan and applying modern technologies and innovations, Jabbarov said.

For her part, Stallmeister expressed confidence that the Bank will continue close cooperation with the government of Azerbaijan to achieve the goals of strategic development of the country, shared her vision of new directions of partnership development