Azerbaijan and The World Bank Discuss Insurance Partnership Program
In a significant step towards bolstering economic development, Azerbaijan and the World Bank engaged in discussions on the Country Partnership Program (CPF) for the period 2025-2028. Mikail Jabbarov, the Azerbaijani Economy Minister, took to the social network X to share insights into the fruitful meeting with Ms. Stephanie Stallmeister, Country Manager of the World Bank in Azerbaijan.
The talks revolved around key aspects outlined in the Country Partnership Framework, addressing the priorities vital for Azerbaijan's economic development. Minister Jabbarov underscored the importance of bilateral cooperation, emphasizing the collaboration's potential impact on the country's strategic objectives.
Azerbaijan and the World Bank are exploring potential investment projects within the upcoming CPF, aligning with the shared commitment to drive economic growth and address key developmental challenges. The discussions encompassed a broad spectrum of crucial topics, ranging from the World Bank's ongoing activities in Azerbaijan to the formulation of a new CPF.
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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