Azerbaijan, World Bank discuss prospects for economic cooperation

Azerbaijan’s Minister of Economy Mikayil Jabbarov has met with World Bank Country Manager for Azerbaijan Stefanie Stallmeister, Azernews reports.

Mikayil Jabbarov hailed the importance of multidimensional relations and effective cooperation with the World Bank, commending the successful partnership in improving the investment environment, public-private sector partnerships, innovation, the development of management technologies, supporting entrepreneurship, and other domains.

Stefanie Stallmeister emphasised that the World Bank attaches importance to cooperation with Azerbaijan and that it will continue providing support to the country in achieving its development priorities.

During the meeting, the World Bank Group presented the main strategic directions that are included in the new Country Partnership Framework document, which reflects Azerbaijan's development priorities and plans in the short and long term. The document will contribute to regional and global challenges aligning with the Roadmap developed with the World Bank to expand cooperation, as well as pinpoint opportunities to strengthen private sector development and mobilise private capital.

The meeting also focused on the development priorities of Azerbaijan, the issues to be reflected in the Country Partnership Framework document, and the organisation of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in the country.