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Sunday, February 25, 2018

CBA, World Bank officials discuss Azerbaijan's economy

The Central Bank of Azerbaijan (CBA) said on Wednesday that a delegation from the World Bank, led by its regional director for the South Caucasus, Henry Kerali, has met with bank officials.

During the delegation's meeting with Elman Rustamov, the CBA's governor, Rustamov emphasized the need for cooperation between Azerbaijan and the international bank. Rustamov also informed the delegation of the stable economic growth that the country has been experiencing, as well as the nation's efforts to diversify into non-oil  energy sectors. 

Kerali said the gains made in both overall economic growth and development of socio-economic and infrastructure reforms were appreciated by the World Bank. He also said a new Country Partnership Framework aims to increase cooperation with member nations of the World Bank. 

Also on the discussion table were current financing projects and the near future in regard to banking supervision and the framework that is being developed by the World Bank. During the meeting, both sides discussed prospects for cooperative efforts and the role of the international bank in the development of the nation's banking system, with specific attention paid to small and medium-sized enterprises (SMEs).

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Central Bank of Azerbijan

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