ECONOMY
ECONOMIC DEVELOPMENT MINISTER MEETS WITH EXECUTIVE DIRECTOR OF THE WB GROUP IN AZERBAIJAN
Minister of Economic Development of Azerbaijan Heydar Babayev met on Friday with Executive Director of the World Bank (WB) Group in Azerbaijan Michel Mordasini to exchange views on the current state and prospects of bilateral cooperation.
The Minister pointed out that Azerbaijan attaches great significance to enhancing its cooperation with the World Bank, whose financial support allowed implementing a variety of important projects in the country. To date, 16 WB- supported projects totaling $450 m have been accomplished, while 18 more ones worth $537 m are underway at the moment. Along with financial support, the Bank provides consultative and technical services to Azerbaijan.
Executive Director of the World Bank Group (WBG) in Azerbaijan Michel Mordasini noted that due to the funds offered by a number of alternative financial structures, the World Bank has lately cut the amount of its loans. He added the WB’s newly elected president had given relevant instructions for things to get back into place.
Mordasini also noted that such problems as global warming and environmental pollutions were also in the focus of the WB, which, he said, is ready to support any steps to deal with them.
Minister Babayev briefed the visitor on the projects being implemented in Azerbaijan in the fields of ecology, healthcare and education.
The matter of Azerbaijan membership of the World Trade Organization was touched upon during the conversation as well.