BAKU, Azerbaijan, December 28. The World Bank lent some $11.3 billion to the countries of Europe and Central Asia in 2023, Trend reports.
As evident from the bank's annual report, in the fiscal year 2023, the WB greenlit $11.3 billion in loans for 50 projects across Europe and Central Asia, which is a notable surge compared to earlier years. This comprised $10.2 billion in IBRD commitments and $1.1 billion in IDA commitments.
The WB also backed 20 Reimbursable Advisory Services agreements with five countries, totaling $34 million in support.
Specifically, this year, the greatest portion of WB commitments to the region was directed towards the public administration sector (31 percent), followed by the energy and extractives sector (14 percent), while the financial sector (12 percent) took the third spot.
The industry, trade, and services sector, along with the social protection sphere, shared the fourth place, each accounting for 11 percent.
Additional commitments were distributed across agriculture, fishing, and forestry, as well as health, information and communications, transportation, and various other sectors.
"We are working closely with MIGA and IFC on private sector reforms to modernize infrastructure and promote the green agenda for industry and finance. Through our innovative financing instruments, we also help strengthen the resilience of the financial sector," the bank said.