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WB portfolio for Azerbaijan one of largest in CIS – CBA

Business Materials 19 September 2017 11:13 (UTC +04:00)
Since the beginning of cooperation, the World Bank (WB) has allocated $3.6 billion to Azerbaijan for implementation of more than 50 projects.
WB portfolio for Azerbaijan one of largest in CIS – CBA

Baku, Azerbaijan, Sept. 19

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Since the beginning of cooperation, the World Bank (WB) has allocated $3.6 billion to Azerbaijan for implementation of more than 50 projects, said Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov.

He made the remarks Sept. 19 in Baku at an event dedicated to the 25th anniversary of cooperation between Azerbaijan and the WB.

“Currently, the World Bank is implementing 10 projects totaling $1.4 billion in Azerbaijan. It is worth noting that the WB portfolio for Azerbaijan is one of the largest among the CIS countries,” Rustamov said.

He also noted the activities of the International Finance Corporation (IFC) in Azerbaijan, saying the corporation implemented a large number of projects worth about $500 million in the country.

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