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Friday, April 19, 2019

Central Bank of Azerbaijan meets with World Bank

Governor of the Central Bank of Azerbaijan Elman Rustamov and other central bank officials recently met with a delegation from the World Bank led by Manager of MSME Finance Aurora Ferrari.

The two sides discussed current and future partnerships in a range of strategic and financial programs.

In addition to financing several developmental projects, the bank is also providing Azerbaijan with analytical and advisory services in order to help the country's growth strategy and policy choices.

The bank, in conjunction with the government of Azerbaijan, is also developing a multi-year Joint Economic Research Program that will ensure continuous access to policy advice and technical expertise.

"With a solid rise in income and a reduction in poverty, Azerbaijan weathered the recent global economic crisis much better than many other countries," the World Bank said in its latest country report on Azerbaijan. "But the post-crisis world is not free of challenges.

"While it withstood the crisis relatively well, the situation showed Azerbaijan's need for a diversified economy, market-based policies and better social services."

Azerbaijan joined the World Bank in 1992.