Advisor to minister: WB allocates over $4B state-guaranteed loans to Azerbaijan

The World Bank (WB) has allocated a state-guaranteed loan to Azerbaijan for 49 completed and 3 ongoing projects with a total amount of over $4 billion, an advisor to Azerbaijan's Economy Minister Rauf Najafli said, Report informs.

He made the statement at the second annual report meeting of the Azerbaijan Rapid Technical Assistance Facility (AZTAF) funded by the European Union (EU) and managed by the World Bank (WB).

Furthermore, the WB has allocated over $30 million to more than 115 technical assistance and various grant projects.

According to him, the World Bank was one of the successful partners in the reforms carried out in the country during the years of independence of Azerbaijan.

Najafli stated that the projects implemented with the bank's financial support in transport, social, water supply and irrigation, agriculture, environment, justice and other fields made important contributions to the development of the country's economy.