Azerbaijan urges WB not to work with Armenian banks in occupied lands

Involving Armenian banks and companies, operating in the occupied Azerbaijani territories, in the World Bank projects is inadmissible, said Azerbaijan’s Economy

He was addressing a meeting with WB Vice President for Europe and Central Asia Cyril Muller in Baku Feb. 10, according to Trend.

The minister once again reminded Muller about Azerbaijan's fair position in the Armenia-Azerbaijan Nagorno-Karabakh conflict.

The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts. The 1994 ceasefire agreement was followed by peace negotiations. Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.

Speaking about the Azerbaijan-WB cooperation, Mustafayev noted that the bank has implemented 40 projects in Azerbaijan, as of now, and 11 more projects are now being carried out.

Mustafayev noted the significance of the World Bank’s continuing financing the projects in Azerbaijan’s private sector.

At the same time, Azerbaijan is interested in cooperation in agriculture and training of employees of industrial parks, the Sumgait Chemical Industrial Park as well, he added.

Azerbaijan joined the WB Group in 1992.


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