The World Bank (WB) is discussing with the Government of Azerbaijan a number of medium- and long-term measures for the country's transition to a new growth model, based on the private sector and increase the stability of the country to external shocks, including low oil prices and the pressure on the national currency. This is stated in the report released by the World Bank.
The Azerbaijani government is developing a broad program of structural reforms and the World Bank as "a long-term partner of the country, is willing to provide the necessary support."
The World Bank for the period of cooperation with Azerbaijan since 1992 has implemented more than 50 projects and allocated loans totaling more than $ 3.3 billion.
This week, a number of foreign media reported on the talks on Azerbaijan's borrowing loans of 4 billion USD from the IMF and the World Bank. However, the Minister of Finance and President of Azerbaijan denied this information. -06D-
Economics
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Azerbaijan is set to host its Trade Forum on October 1, supported by “Pasha Holding” and jointly organized by the Small and Medium Business Development Agency (SME), Azerbaijan Customs representation, and the Logistics Companies Association.
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The inaugural Investment Forum on energy transition in Central Asia is set to take place on November 15-16 in Baku, Azerbaijan, organized by the International Renewable Energy Agency (IRENA) and Azerbaijan’s Ministry of Energy as part of the COP29 conference.
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At the advisory meeting of railway administrations held in Baku on September 19-20, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), met with Ufuk Yalçın, General Director and Chairman of the Board of the Turkish State Railways Company "TCDD Taşımacılık." The meeting marked the second time this year that officials have discussed expanding railway transport cooperation between Azerbaijan and Turkey.
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The Center for Analysis of Economic Reforms and Communication (CAERC) has completed its monitoring and evaluation of the first half of the year in relation to the "I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan." This state program focuses on restoring infrastructure and resettling displaced populations in areas that were reclaimed during the 2020 Nagorno-Karabakh conflict.
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