CBA Governor receives WB’s new Regional Director

03-06-2019

3 June 2019, Baku: Elman Rustamov, Governor of the Central Bank met with Mrs Mercy Tembon, World Bank’s Regional Director for the South Caucasus and Mr Sebastian Molineus, the new regional director.

Mrs Tembon informed the participants on the works done by the WB in Azerbaijan while she was the regional director; introducing the WB’s new Regional Director for the South Caucasus she mentioned his broad expertise in various directions of the WB activities.

In his turn Mr E.Rustamov highlighted comprehensive financial, organizational, technical and intellectual support by the WB across all directions of development over 25 year cooperation of the WB with our country. He highly appreciated the activities by the WB while Mrs Tembon took her post as the regional director for the South Caucasus.

E.Rustamov wished good luck to Mr Molineus in his future activities in Azerbaijan. He detailed the participants on the macroeconomic situation in the country, diversification of the economy and non-oil growth, the country’s foreign position, the CBA’s monetary and exchange rate policy and related reforms. Also he expressed his assurance that Azerbaijan will further deepen its cooperation with the WB on the backdrop of global and regional challenges and that our country will benefit from the WB’s institutional experience.

Mrs Tembon, the head of the delegation, mentioned that the Azerbaijani Government has been taking critical efforts to deepen private sector involvement and diversify the economy in sustaining economic growth over recent years. She expressed her gratitude to the Governor of the Central Bank for successful continuation of the WB activities in Azerbaijan and for his support for the events held by the latter. She also expressed her assurance that fruitful cooperation will keep going with Mr Molineus, the new regional director.

The meeting participants also shared their opinions on prospects of future cooperation between the Central Bank and the World Bank.