WB regional directors to visit Azerbaijan

Lalita Murti, Regional Director for Equal Development, Finance and Institutions of the World Bank (WB), and Sebastian Molineus, Regional Director of the structure for the South Caucasus, will arrive in Baku on June 1.

The visit will last until June 3, Report says.

The main purpose of the visit is to present to partners and the public the developed study on Azerbaijan - the Economic Memorandum on the country.

Azerbaijan has been a member of the World Bank since 1992. The Bank has identified many national development priorities in Azerbaijan and financed more than 50 projects with a total value of more than $4.4 billion.

Currently, the World Bank's operations in Azerbaijan are regulated by the Partnership Framework Program (CPF), approved in 2015. The CPF was designed for fiscal years 2016-2020, but after reviewing its effectiveness in 2020, it was decided to extend it.