HIS EXCELLENCYILHAM ALIYEVPRESIDENT OF AZERBAIJAN REPUBLIC
I would like to take this opportunity to extend to You on the occasion of your inauguration as President of the Azerbaijan Republic.
As You know, Azerbaijan and the World Bank Group have developed close relations over the passed decade, and we look forward to continue this fruitful cooperation with You and Your authorities. The next several years, will be extremely challenging ones for Azerbaijan, with great promise for improving the well-being of current and future generations of Azeries. The decisions Your administration will face regarding management of the country’s natural resource wealth will require considerable wisdom, as well as sound professional and technical decisions.
We have every confidence that the efforts of former President Heydar Aliyev to prepare the stage for these challenges provides a good basis, including through the establishment of the State Oil Fund, reform of public expenditure management and budgeting arrangements, the decision to restructure the State Oil Company of Azerbaijan, the increased attention to the non-oil business environment, and the preparation of Azerbaijan’s State Program for Poverty Reduction and Economic Development (SPRED). In this context, I was gratified to learn of Your emphasis on continuing and deepening economic and social reforms, in Your Inaugural Address.
This past week the Board of Directors of the World Bank approves IFC support for the ACG Phase I and Baku-Tbilisi-Ceyhan Pipeline Projects. This is an important component of our Country Assistance Strategy for Azerbaijan, which also includes IDA and IFC assistance programs in the SPRED, inter alia for education social protection, small business development, and environmental protection. Our Country Directory for the South Caucasus region, Mrs. Donna Dowsett-Coirolo, will work very closely with You and Your authorities, to coordinate World Bank Group assistance for these various efforts.
Again, let me congratulate You at the outset of your term as President of the Republic of Azerbaijan and wish You every success in the years ahead.
Sincerely Yours,
James Wolfensohn,
President of the World Bank
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