Regional Director: World Bank is happy to partner with Azerbaijani gov’t in implementing many reforms [VIDEO]

By Trend

The World Bank (WB) is happy to partner with the Azerbaijani government in implementing many reforms, Regional Director of the World Bank for the South Caucasus Mercy Tembon told Trend in "PREZIDENT. Musteqillik. Tehlukesizlik. Rifah" video project.

“I would like to talk about the reforms in key areas. Among them are the reforms in the investment climate, in doing business. These reforms have enabled Azerbaijan to make progress in its ranking of the Doing Business. One is about the time it takes to create business, the time it takes people to have access to licenses and access to electricity and all the things that will be necessary to make businesses function. Azerbaijan has done very well in this area. And its ranking in the Doing Business Report has gone up from 57th to 25th. And Azerbaijan was ranked among the ten best reformed countries in the world,” she said.

Tembon pointed out that the WB is also happy to see the reforms in the financial sector.

“As you know, two years ago, the country went through a series of shocks related to the banking sector and about 11 banks fell. But the government has been able to put in place reforms that have regenerated the financial sector. And that is helping the economy to grow. We have investments and support in the key sectors like agriculture, transport, human development, health, education and supporting women and people in the rural areas like women entrepreneurships, so that people can begin to create income for themselves, and live a better life. The level of poverty has dramatically gone down. We are very happy that few remaining people, who are still below the poverty line, will be lifted out of poverty,” added the WB regional director.