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Azerbaijan, WB eye co-op to rebuild Karabakh

27 October 2021 [15:29] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan and the World Bank have discussed cooperation to rehabilitate territories liberated from Armenia's occupation in last year's war.

The discussion took place during the meeting of Azerbaijan's Economy Minister Mikayil Jabbarov and the World Bank Country Manager for Azerbaijan Sarah Michael.

"During our meeting with Sarah Michael, the World Bank Country Manager for Azerbaijan, we discussed the implementation status of joint projects, cooperation with the Bank in the restoration of liberated territories and new projects," the minister wrote on his official Twitter page on October 26.

It should be noted that Azerbaijan joined the WB in 1992. Since then, the bank has financed over 50 projects with total commitments of $4.4 billion. It started economic cooperation in Azerbaijan to help increase the country’s institutional capacity and to build efficient management of oil reserves. The WB has always supported the large-scale reforms carried out in Azerbaijan.

Cooperation with Asian Infrastructure Investment Bank

Azerbaijan and the Asian Infrastructure Investment Bank have discussed the prospects for cooperation in green and smart concepts.

The discussion took place during the 6th annual meeting of the board of governors of the AIIB.

"New challenges in climate policy are one of the most pressing global issues today. During the 6th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, we discussed prospects of partnership with the bank regarding implementation of green and smart concepts in Azerbaijan according to 2030 agenda," the minister wrote on his official Twitter page on October 26.


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