Azerbaijan, WB discuss railroad modernization

By Azernews

By Ayya Lmahamad

Azerbaijan and the World Bank have discussed issues of modernization of the country’s railroads, Azernews reports.

The discussion took place at a meeting between Azerbaijani Railways CJSC Chairman Rovshan Rustamov and the World Bank delegation headed by the Regional Director for the South Caucasus Sebastian Molineus.

During the meeting, the parties also exchanged views on the transformation of Azerbaijan into a major transit and logistics center, and new regional transport projects, including the Middle Corridor.

Moreover, Rovshan Rustamov informed Sebastian Molineus about the main directions of the Azerbaijan Railways Action Plan for 2023.

Azerbaijan joined the WB in 1992. Since then, the bank has financed over 50 projects with total commitments of $4.4 billion. It started economic cooperation in Azerbaijan to help increase the country’s institutional capacity and build efficient oil reserves management. The WB has always supported the large-scale reforms carried out in Azerbaijan.