Azerbaijan, World Bank discuss expanding cooperation
Azerbaijan’s Finance Minister Sahil Babayev met with a World Bank delegation in Baku on Monday to discuss expanding cooperation in infrastructure, energy, urban development, and digital transformation.
During the meeting, the sides reviewed the current state of Azerbaijan–World Bank cooperation and discussed prospects for its further development. Particular attention was paid to ongoing World Bank–supported projects in infrastructure, urban development, energy, and digitalization, as well as to planned future programs, News.Az reports, citing the Ministry of Finance.
Babayev noted that cooperation between Azerbaijan and the World Bank has spanned more than 30 years, during which the Bank has allocated about $5.2 billion to finance 54 projects in the country. He emphasized that this partnership has played a significant role in advancing economic reforms and developing sustainable infrastructure.
The discussions also covered the implementation of current projects. It was noted that within the AZURE project, which aims to expand the use of renewable energy, newly constructed solar and wind power plants are being integrated into Azerbaijan’s energy system, contributing to the development of sustainable energy infrastructure. The sides also highlighted the importance of the Employment Support project and its additional financing in expanding job opportunities, particularly in the liberated territories, and supporting long-term resettlement. In addition, the Regional Roads and Development project was praised for enhancing transport connectivity and stimulating economic activity between regions.
Charles Cormier, the World Bank’s Regional Director for Infrastructure in Europe and Central Asia, stressed that the Bank places great importance on its long-term and productive partnership with Azerbaijan and highly values the economic reforms underway in the country. He pointed to strong potential for expanding cooperation in infrastructure, green energy, urban planning, and logistics, noting that future initiatives in these areas would support sustainable development and broader economic opportunities.
The meeting also included detailed discussions on several upcoming projects planned to be financed through World Bank credit resources. These include the expansion of the Baku International Sea Trade Port, the Competitive and Sustainable Agriculture and Irrigation Services project, and the Livable Baku initiative. The sides reviewed the institutional, technical, and financial measures required to implement these projects and discussed additional opportunities for expanding bilateral cooperation.
The meeting was also attended by Rolande Pryce, the World Bank’s Regional Director for the South Caucasus.
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