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Azerbaijan, World Bank Mull Cooperation Prospects

Azerbaijani Minister of Economy and Industry Shahin Mustafayev has met World Bank's Regional Director for the South Caucasus Henry Kerali to discuss current state of and outlook for cooperation.

The Minister underlined the importance of implementation of projects jointly with international financial institutions in terms of applying the world's best practices, ensuring control and transparency and introducing advanced technologies and innovations in the country. He noted that the World Bank has set aside 3.2 billion dollars on implementation of 50 projects in Azerbaijan. This year also saw the signing of the deal approving additional financing for the Integrated Solid Waste Management Project, which envisages rehabilitation of the Balakhany main waste disposal site, development of a comprehensive vision for the waste management system, closure of old waste disposal areas, development of new waste cells, and introduction of methane gas capture systems.

Mustafayev said Azerbaijan was conducting talks with the World Bank experts over establishment of industrial parks in Azerbaijan in line with the international practice.

Discussions also revolved around prospects for cooperation on establishment of pilot industrial quarters in the regions of Azerbaijan, in particular, refugees and IDPs-populated areas in order to boost social and economic development in the regions.

Kerali said the World Bank works in line with priorities set by the government of Azerbaijan, adding the Partnership Framework 2015-2019 is set to help diversify the economy, develop the non-oil sector and non-oil industry.

Source: AzerTAc

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