Azerbaijan, Baku, Feb. 26 / Trend /
The World Bank (WB) supports activities conducted by Azerbaijan to preserve economic stability and ensure development, World Bank Regional Director for the South Caucasus Henry Kerali said at a meeting with Chairman of Board of the Azerbaijani Central Bank (CBA) Elman Rustamov said today.
According to the CBA, Kerali appreciats the effective and business relations between the Azerbaijani government and the World Bank; they have exchanged views on current projects, including the adoption of a Joint Economic Research Program.
Discussions were held within the World Bank Country Partnership Strategy for 2011-2014.
"Azerbaijan has played an important role in the preparation of the strategy," he said. "At present, the interim report is being prepared for the next two years and the main priorities of the strategy are being determined."
Since 1992, during the whole period of cooperation with Azerbaijan, the World Bank has financed 56 projects in various sectors of the economy for a total of $3.4 billion in loans and grants of the International Development Association (IDA), and the International Bank for Reconstruction and Development (IBRD). During this period, the World Bank contributed to Azerbaijan grants totaling $42 million sent towards the development of projects, feasibility studies and training.