Minister Shahin Mustafayev meets with World Bank Vice President

Minister of Economy Shahin Mustafayev has today met with the Vice President of the World Bank for Europe and Central Asia Cyril Muller, who is on his visit to Azerbaijan.

Report informs citing the Ministry of Economy, current state of bilateral relations between Azerbaijan and the World Bank and perspectives of cooperation were discussed in the meeting.

Sh. Mustafayev said that cooperation between Azerbaijan and the World Bank is multidimensional and covers infrastructure, agriculture and social spheres. The World Bank has allocated $ 4.15 billion to the country for 53 projects. Works on 41 projects have already been completed, on another 11 underway. The World Bank also supports development of private sector in Azerbaijan and closely cooperates with this area. So far, the World Bank has allocated $ 500 million to the private sector on 72 projects.

C.Muller pointed out that the bank has been successfully cooperating with Azerbaijan for 25 years and expressed satisfaction with the relations. The vice president said that leads World Bank cooperation with 35 countries, including Azerbaijan, emphasized that Azerbaijan is the most dynamic one among them underlining significant improvements in 2017.

According to him, the World Bank cooperates with Azerbaijan in many areas, including the Southern Gas Corridor projects. C. Muller said that the World Bank is ready to support economic development of Azerbaijan at all times. 


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