Potential financing opportunities for the rehabilitation of the Bilasuvar–Astara section of the M3 highway between Azerbaijan and the World Bank have been reviewed, and the strategic role of regional transport corridors in strengthening economic integration has been emphasized.
elchi reports this with reference to the Ministry of Finance.
According to the information, today Minister Sahil Babayev met with the World Bank’s Regional Director for the South Caucasus, Ms. Rolande Pryce, who is on a visit to our country.
During the meeting, the current state of cooperation between Azerbaijan and the World Bank, joint projects implemented in the energy and transport sectors, as well as future priority directions were discussed. There was also an exchange of views on opportunities to expand cooperation in the fields of sustainable urban development and infrastructure within the framework of the 13th session of the World Urban Forum (WUF13) held in Baku.
S. Babayev stated that cooperation with the World Bank makes a significant contribution to Azerbaijan’s socio-economic development, noting that the partnership is successfully developing in the areas of energy transition, strengthening transport links, infrastructure modernization, social protection, employment, and institutional reforms. Touching upon the importance of cooperation in the energy sector, he emphasized that the “AZURE” project holds a special place in Azerbaijan’s green energy transition strategy. It was noted that within the framework of the project, work on the integration of renewable energy sources into the national power transmission network and the expansion of power transmission infrastructure is being carried out consistently.
Referring to the “Regional Connectivity and Development” project implemented with the support of the World Bank, S. Babayev stated that the completion of the reconstruction of the Salyan–Bilasuvar road corridor is of great importance in terms of strengthening regional connectivity and improving logistics infrastructure.
For her part, R. Pryce expressed her satisfaction with the development of cooperation between Azerbaijan and the World Bank, stating that they are interested in further expanding cooperation in the areas of energy infrastructure, climate resilience, green development, social protection, employment, and strengthening human capital. She noted that the World Bank’s participation in WUF13 is of great importance for expanding the partnership in the field of sustainable urban planning and infrastructure development.
The parties also emphasized the importance of continuing the dialogue between Azerbaijan and the World Bank in order to determine future strategic directions of activity.