Azerbaijan, WB discuss cooperation

Azerbaijan’s Deputy Prime Minister Ali Ahmadov met the delegation headed by Andrew Mason, the World Bank’s senior economist on social protection and labor.

Mason said he was well aware of the latest economic achievements in republic and expressed hope the Azerbaijani government will achieve greater successes.

Then, the sides focused on the pension reforms and implementation of the “Concept of Pension Reforms in 2014-2020s” approved by President Ilham Aliyev on November 2014.

Ahmadov said the World Bank’s participation in realization of these reforms would be of special significance and deepen cooperation in social security and employment sphere.

The sides had also exchange of views on the state of implementation of the “Development of Social Security” project, the actions taken in this direction.

So far, the World Bank has allocated some $3.6 billion to 51 projects in Azerbaijan, which has been a member of the WB since 1992.

The total liabilities of the bank to the country have amounted to over $3 billion on 54 projects during this period. About $1.7 billion was allocated for the implementation of the road-transport projects.