BAKU, Azerbaijan, September 4. This week, Azerbaijan's Trade House has been opened in Beijing, Trend reports.
Moreover, the Central Bank of Azerbaijan (CBA) and the World Bank (WB) held a meeting to discuss future directions of technical assistance. The sides exchanged views on the current activities of the World Bank in Azerbaijan and the new cooperation framework from 2023 through 2028.
In addition, the state will remain the main shareholder of the International Bank of Azerbaijan.
At the same time, it is supposed to attract small private investments, due to which the state share is reduced. In order to expand the participation of Azerbaijani citizens in the management of state institutions, the development of the securities market and the creation of alternative investment opportunities, the advantage will be given to attracting minority shareholders to the bank, not large private investors.
Meanwhile, Rolanda Pryce has been appointed as the new Regional Director for the South Caucasus of the World Bank (WB).
Alkis Vrienios Drakinos has been appointed representative of the European Bank for Reconstruction and Development in the Caucasus.
The EBRD has reaffirmed its readiness to stimulate the development of public-private partnership in infrastructure projects in Azerbaijan.
"Public-private partnerships play a crucial role in ensuring improved and expanded provision of higher quality infrastructure. The EBRD is accelerating the process of attracting the private sector and is particularly interested in expanding public-private partnerships in the regions of its service area. The Bank plays an active role together with its partners from other international financial institutions in mobilizing additional private capital," the EBRD said.