BAKU, Azerbaijan,
October 2. Azerbaijan and the World Bank have
discussed cooperation in financial access and transport during a
meeting today in Baku.
The discussion was held at a meeting between the First Deputy
Minister of Finance of Azerbaijan, Anar Karimov and a World Bank
delegation led by Regional Director for the South Caucasus Rolande
Pryce, the Azerbaijani Finance Ministry told Trend.
The meeting addressed the key outcomes of the World Bank's
Financial Inclusion for Jobs and Growth (FINGROW) and transport
missions, future areas of cooperation, as well as strengthening
coordination between the World Bank and relevant government
agencies to accelerate project preparation and implementation.
Karimov highlighted the importance of partnership with the World
Bank in supporting Azerbaijan's socio-economic development and
implementing its reform agenda. He noted that there are broad
opportunities to deepen cooperation in expanding access to finance,
financing the private sector and developing transport
infrastructure.
Regarding preparations for the FINGROW project, Karimov said
work was continuing to establish the necessary financing and legal
mechanisms for implementing the partial credit guarantee and equity
financing components envisaged under the project, as well as to
define the project's conceptual framework.
The sides also noted that the World Bank-financed Regional Roads
and Development project was completed in March this year. It was
reported that, as part of continued cooperation in the road sector,
relevant measures are being taken to prepare the Reconstruction of
the Bilasuvar-Astara Section of the M3 Highway project and secure
World Bank financing and technical assistance.
In turn, Pryce expressed satisfaction with the development of
cooperation between Azerbaijan and the World Bank based on mutual
trust and effective partnership. She said the World Bank was ready
to provide financial and expert support for initiatives aimed at
expanding access to finance and developing transport infrastructure
under the FINGROW project.
The sides stressed the importance of continuing cooperation in
these areas and strengthening coordination.
