CBA Governor receives World Bank delegation

20-02-2019

20 February 2019, Baku: The Governor of the CBA Mr Elman Rustamov received the delegation of the World Bank headed by Ms. Mercy Tembon, the WB Regional Director for the South Caucasus.

Ms. Mercy Tembon mentioned critical efforts by the Azerbaijani Government over recent years to expand private sector involvement and reduce dependence on oil and gas resources in sustaining economic growth. Highly assessing the meeting of Ilham Aliyev, the President of the Republic of Azerbaijan with Kristalina Georgiyeva, the first Chief Executive Officer of the WB in Davos early year she said that the meeting paved the way to new cooperation prospects. 

The meeting participants discussed WB’s activities in Azerbaijan, the existing project portfolio, success stories as part of the Country Partnership Strategy and new promising areas for WB cooperation with Azerbaijan. The head of the delegation expressed her deep gratitude to the Governor of the Central Bank for successful extension of WB activities in Azerbaijan, and for his support for the events held by the Bank.

In his turn Governor E.Rustamov mentioned that reputation and attractiveness of Azerbaijan for international cooperation on a global arena ceaselessly elevates due to rapid socioeconomic development resulting from successful policy pursued by Mr President and socio-political stability and that one of the core directions of such cooperation is the ties with reputational international financial institutions, including the WB.

Highlighting a high level of cooperation between Azerbaijan and the WB Mr E.Rustamov detailed the guests on actions taken to safeguard macroeconomic stability, develop the non-oil sector, and maintain financial stability in the country. Hopefully, cooperation of the WB with Azerbaijan will further deepen and our country will benefit from WB’s institutional experience amid the global economic environment and regional challenges.

The meeting participants also exchanged opinions on prospects of WB and the CBA cooperation.