BAKU, Azerbaijan, Nov. 19
By Khagan Isayev – Trend:
The International Finance Corporation (IFC) has allocated about $850 million to the private sector in Azerbaijan to date, Trend reports with reference to the World Bank (WB).
According to the information, the Azerbaijani government and the World Bank Group signed an Agreement on the opening and operation of WB offices in Azerbaijan on Nov. 18.
The document was signed by the Minister of Finance of Azerbaijan Samir Sharifov and the Vice-President of the World Bank for Europe and Central Asia Anna Bjerde.
It is reported that the new agreement will significantly simplify the work of the WB Group in Azerbaijan to support joint efforts to achieve green and sustainable recovery through inclusive and equitable growth.
"Our partnership with the World Bank has turned Azerbaijan from a low-income country into a sponsor of the International Development Association, a World Bank structure that helps the world's poorest countries," the statement quotes Prime Minister Ali Asadov.
In his opinion, the signed agreement will help multiply these achievements.
"We look forward to continuing the growth and development of our cooperation with the Azerbaijani government, applying the best experience and knowledge that the World Bank can offer to support Azerbaijan's 2030 vision and development goals," Bjerde said.
"A vibrant private sector is critical to economic growth. This agreement was signed at a time when Azerbaijan is taking steps to encourage the private sector to diversify its economy. IFC intends to continue its support for sustainable growth in Azerbaijan by helping to mobilize private sector opportunities," IFC's Acting Vice President for Europe, Latin America, and the CaribbeanWiebke Schloemer said.