World Bank conducts study in preparation for Azerbaijan's Second Economic Forum

Business Materials 12 May 2011 13:38 (UTC +04:00)

Baku, Azerbaijan, May 12 / Trend, N. Ismayilova /

The new senior economist of the World Bank (WB) on Azerbaijan Rashmi Shankar will visit the country in mid-May, the bank's Baku Office said on Wednesday.

Shankar has already visited Azerbaijan in March. Her second visit will last from May 15 until early June. The visit aims at discussing macroeconomic issues, as well as conducting analysis in preparation for the country's second forum on long-term economic development.

Following the first such forum on Oct. 21, 2009, preparations were agreed upon to diversify the economy by raising development, as well as holding a new forum to measure progress and results. The forum was organized in Baku with the participation of WB Managing Director Ngozi Okonjo-Iweala.

Azerbaijan Days were held at the WB head office in Washington in March. The Chairman of the Central Bank of Azerbaijan Elman Rustamov spoke with WB President Robert Zoellick Rustamov, saying that the event would raise cooperation efforts to a new level.
Azerbaijan has been a World Bank member since 1992. As part of the cooperation, the bank has already allocated $2.9 billion to fund 43 projects.