Azerbaijan, World Bank hail cooperation

By Azernews

By Ayya Lmahamad

Azerbaijan and the World Bank have discussed economic reforms carried out in the country during the meeting held between Economy Minister Mikayil Jabbarov and the bank’s Country Manager Sarah Michael on February 10

The sides discussed the importance of special economic and financial research that the World Bank will conduct in Azerbaijan, and the main aspects of the study.

Minister Jabbarov underlined that Azerbaijan attaches great importance to the cooperation with the World Bank and these ties are multifaceted.

It was noted that the Country Economic Memorandum (CEM), Financial Sector Assessment Program (FSAP) and Systematic Country Diagnostic (SCD) prepared by the Bank will contribute to the achievement of priority development goals.

Additionally, the views on cooperation with the Economy Ministry in the preparation of this research were exchanged.

The World Bank started economic cooperation with Azerbaijan in 2001 to help increase the country’s institutional capacity and to build efficient management of oil reserves. The World Bank has always supported the large-scale reforms carried out in Azerbaijan.