BAKU, Azerbaijan, December 19. Azerbaijani Prime Minister Ali Asadov met with a delegation of the International Finance Corporation (IFC) Regional Vice President for Europe, Latin America & Caribbean in the World Bank Group (WBG) Garcia Mora today, on December 19, Trend reports.
It was noted that Azerbaijan attaches great importance to cooperation with the World Bank and the structures of the World Bank Group.
In this regard, the importance of a long-term effective partnership with IFC was emphasized.
It was noted that over the past period, the IFC has supported the realization of projects in various spheres in Azerbaijan. Issues related to the realization of potential projects with the World Bank, including the IFC, in the spheres that are priorities for the government of the country were discussed, and it was noted that these projects may be related to "The Big Return" to the territories liberated from Armenian occupation, an increase of employment, creation of green cities, expansion of the Southern Gas Corridor project, activities of Baku Shipyard, construction of wind energy infrastructure and other directions.
It was noted that over the past years, Azerbaijan has turned from a low-income country into a high-income donor country, and it was emphasized that the country has been a donor of the World Bank since 2021. Targeted measures are taken in Azerbaijan to improve the business climate, prevent unfair competition, and stimulate entrepreneurial activity.
At the same time, it was emphasized that the development of non-oil economy is one of the main priorities. Various types of preferential and credit mechanisms are applied in the agricultural sector. It was brought to attention that through public-private partnership mechanisms, consistent measures are being implemented to enhance the role of the private sector in economic development. Development of a competitive economy and agriculture, as well as promotion and support of public-private partnership projects, are the main directions of the International Finance Corporation's activity in Azerbaijan, and the country is interested in continuing cooperation in relevant spheres.
Moreover, it was noted that Azerbaijan supports the global fight against climate change and consistently works towards achieving energy efficiency. Large-scale work carried out in the liberated territories of the country, including projects related to the creation of a green energy zone, environmentally friendly transportation, smart cities, and villages are clear proof of this. In this regard, the importance of the future holding of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change - COP29 in Azerbaijan was emphasized.
Additionally, it was noted that attracting investments in renewable energy sources, and ensuring transition to 'clean' energy are among the main priorities of energy policy in Azerbaijan, and there are good opportunities for effective partnership in these directions.
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