"Over the past nine years, European companies have invested over $20 billion in Azerbaijan," Azerbaijan's First Deputy Economy Minister Elnur Aliyev told a signing ceremony of the Administrative Agreement on the Azerbaijan Technical Assistance Facility (ATAF) project signed by the European Union (EU) and the World Bank (WB), Report says.
According to him, Azerbaijan closely cooperates with the European Union within the Eastern Partnership program: "Azerbaijan has implemented about 55 twinning projects within the Eastern Partnership program. We also cooperate with the World Bank in transport, agriculture, m melioration, social and other fields. So far, the World Bank has provided technical assistance to Azerbaijan worth about $20 million for on 96 projects."
Azerbaijan has been a member of the World Bank since 1992. To date, the bank has provided a total of $3.5 billion in loans to Azerbaijan to implement more than 50 projects.