Baku, Azerbaijan, Feb. 10
By Azad Hasanli - Trend:
The level of disbursement of World Bank's (WB) funds in Azerbaijan is 17 percent, Larisa Leshchenko, head of WB Baku office told reporters Feb. 10.
It is one of the highest figures in the European and Central Asian regions, according to her.
She estimated the level of disbursement of WB's funds in Azerbaijan as good, though, according to Leshchenko, there are some minor delays.
Speaking about the current economic situation in the world, she emphasized that the WB is ready to advise Azerbaijan on economic development.
"We do not consider the situation in Azerbaijan recessionary; the country faced a decline in oil revenues," she said. "But Azerbaijan has necessary financial resources, and it can't be called a poor country. The country was able to use oil revenues to provide safety buffer for itself," added Leshchenko.
Azerbaijan joined the WB in 1992. During the cooperation period WB allocated over $3 billion to the country to implement more than 60 projects.
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