New Head of World Bank in Azerbaijan Appointed

BAKU / 22.09.16 / TURAN: Naveed Hassan Nagwi has been appointed instead of Larisa Leshchenko, who has completed the mission of the head of the World Bank (WB) in Azerbaijan.

Having worked in the system of international structures for 12 years, now he has been withdrawn from Central Asia, where he worked as a senior economist of the WB in the labor and employment market, education, health, social protection, agriculture, urban development and disaster risk management.

Presumably, his visit to Baku and acquaintance with members of the government is expected in early or mid-October. According to the World Bank charter, its representatives in countries work on their posts for 3 years, which then may be extended by 1 year.

Larisa Leshchenko is the only one whose trip to Baku was extended due to the successful financial diplomacy, while her predecessors had worked for 3 years.

From 1992 to September 1, 2016, Azerbaijan received through the World Bank $ 3.99 billion in the form of loans under state guarantee in the framework of more than 70 projects. Of this approximately $ 2.9 billion (72.56%) was used.

In addition, the government has received from the World Bank $ 41 million 586 thousand for the development of 45 grants. --17D-