WB regional director for South Caucasus to visit Azerbaijan

Business Materials 30 June 2015 16:49 (UTC +04:00)

Baku, Azerbaijan, June 30

By Azad Hasanli - Trend:

Henry Kerali, the Regional Director of the World Bank (WB) for the South Caucasus, will visit Baku on July 1-2, the WB office in Baku told Trend June 29.

"During the visit, the meetings are planned to be held with the partners of the bank," the statement said. "The project implementation course will be discussed. Kerali will discuss the future cooperation prospects at a governmental meeting."

The current strategy of cooperation with Azerbaijan covered 2011-2014. Despite the timing of its implementation completed in late June 2014, the bank continues working on the projects to be financed by the World Bank as part of the transitional period.

The cooperation with Azerbaijan for 2015-2020 strategy project has been submitted for approval by the board of directors of the World Bank, head of the WB Baku office Larisa Leshchenko told Trend earlier.

A meeting will be held July 21, 2015.

"The cooperation strategy will support Azerbaijan's transition to a new economic model," she said. "The bank will help the government improve the efficiency of the public sector. Another aspect of the new strategy is associated with the development of the private sector of the country. "We will pay special attention to this aspect."

"As the strategy will be reviewed every two years, it is difficult to determine its total cost," she said. "Therefore, the initial sum is $300-500 million."

Azerbaijan became a WB member in 1992. During the period of cooperation the bank has allocated more than $3 billion for Azerbaijan to implement 55 projects.

Edited by CN


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