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WB ready to explore new engagements in Azerbaijan’s energy sector

Oil&Gas Materials 26 February 2021 10:17 (UTC +04:00)
WB ready to explore new engagements in Azerbaijan’s energy sector

BAKU, Azerbaijan, Feb.26

By Leman Zeynalova – Trend:

The World Bank (WB) is ready to explore new engagements in Azerbaijan’s energy sector, Sarah Michael, World Bank Country Manager for Azerbaijan, told Trend.

She pointed out that as a long-time trusted partner of Azerbaijan, the World Bank has financed over 50 investment projects since the country joined the World Bank in 1992.

“These projects include a variety of sectors critical to boosting economic growth, trade, connectivity and improve public services delivery. The energy sector was among these. In the early 2000s, the Bank financed the Power Transmission Project which helped improve the quality, reliability and efficiency of electric transmission across the country. More recently, the Bank has provided financing for the Trans-Anatolian Natural Gas project (TANAP), which is part of the Southern Gas Corridor that delivers Azerbaijani gas from the Shah Deniz field to markets in Turkey and Southern Europe,” said the WB country manager.

Michael noted that the implementation of these projects has already been completed and the World Bank does not have active energy projects in its portfolio right now.

“For the future, we stand ready to explore new engagements in the energy sector to support the government in achieving its national vision on energy, such as around increasing the efficiency of the natural gas distribution network,” she added.

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Follow the author on Twitter: @Lyaman_Zeyn

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