WB considering financing of part of North-South Transport Corridor in Azerbaijan
BAKU, Azerbaijan, Dec. 6
By Eldar Janashvili – Trend:
The World Bank (WB) and the Azerbaijan Railways CJSC discussed the bank’s participation in financing the project of reconstructing the Alat-Astara railway line, which is part of the North-South International Transport Corridor, Trend reports on Dec. 6 referring to the Azerbaijan Railways CJSC.
The parties actively discussed the prospects and priorities for mutual cooperation. The views on institutional and structural reforms being carried out in the direction of strengthening the management system, improving the financial situation and achieving high operational efficiency were exchanged.
World Bank Regional Director for the South Caucasus Sebastian Molineus emphasized the importance of further strengthening of bilateral ties.
Molineus stressed that the large-scale work is being carried out in Azerbaijan to expand transport and logistics capabilities and increase transit potential.
Country Manager for the World Bank Azerbaijan Office Naveed Naqvi also attended the meeting.
The WB is one of the international financial institutions issuing the loans to the developing countries. One of the main goals of these loans is the implementation of economic programs. The WB is also collaborating with the Azerbaijani government in carrying out structural reforms.
Follow the author on Twitter: @eldarjanashvili