World Bank, Azerbaijan expand partnership in key sectors

Azerbaijan’s Finance Minister Sahil Babayev met Rolande Pryce, the World Bank’s Regional Director for the South Caucasus, in Baku on Wednesday to discuss the current state of cooperation between Azerbaijan and the World Bank, joint projects in the energy and transport sectors, and future priority areas.

During the meeting, the sides exchanged views on opportunities to expand cooperation in sustainable urban development and infrastructure within the framework of the 13th session of the World Urban Forum (WUF13) in Baku, News.Az reports, citing AZERTAC.

Babayev noted that cooperation with the World Bank has made a significant contribution to Azerbaijan’s socio-economic development, highlighting the successful partnership in energy transition, transport connectivity, infrastructure modernisation, social protection, employment and institutional reforms. He emphasised that the AZURE project plays a key role in Azerbaijan’s green energy transition strategy, particularly in integrating renewable energy sources into the national electricity grid and expanding transmission infrastructure.

He also referred to the Regional Connectivity and Development Project, noting the importance of reconstructing the Salyan–Bilasuvar road corridor for regional connectivity and logistics. Potential financing for the Bilasuvar–Astara section of the M3 highway was also discussed, underlining the strategic importance of transport corridors for economic integration.

For her part, Pryce praised cooperation between Azerbaijan and the World Bank and expressed interest in expanding the partnership in energy infrastructure, climate resilience, green development, social protection, employment and human capital development. She also highlighted the importance of the World Bank’s participation in WUF13 in strengthening cooperation in sustainable urbanisation and infrastructure development.

The sides stressed the importance of continuing dialogue to define future strategic priorities.

News.Az