World Bank, Azerbaijan expand partnership in key sectors

On May 20, Sahil Babayev, Azerbaijan’s Minister of Finance, met with Rolande Pryce, World Bank Regional Director for the South Caucasus, during her visit to Azerbaijan.

The meeting focused on the current state of cooperation between Azerbaijan and the World Bank, joint projects in the energy and transport sectors, as well as future priority directions. They also 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) held in Baku, News.Az reports, citing AZERTAC.

Minister Sahil Babayev noted that cooperation with the World Bank makes a significant contribution to Azerbaijan’s socio-economic development, highlighting a successful partnership in energy transition, transport connectivity, infrastructure modernization, social protection, employment, and institutional reforms. He emphasized 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 the Salyan–Bilasuvar road corridor reconstruction 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, Rolande Pryce commended cooperation between Azerbaijan and the World Bank and expressed interest in expanding 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 for strengthening cooperation in sustainable urbanization and infrastructure development.

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

News.Az 

By Ulviyya Salmanli