Azerbaijan News 19 October 2026 16:36 (UTC +04:00)
Photo: Central Bank of Azerbaijan
BAKU, Azerbaijan, October 19. An exchange of views took place regarding projects currently being implemented or planned between Azerbaijan and the World Bank (WB).
This was reflected in a statement published by the Central Bank of Azerbaijan (CBA) following meeting between a delegation led by First Deputy Chairman of the CBA, Aliyar Mammadyarov and First Deputy Minister of Finance, Anar Karimov, and the World Bank’s Vice President for the Europe and Central Asia region, Antonella Bassani, on the sidelines of the Annual Meetings of the WB and the International Monetary Fund (IMF).
During the meeting, information was provided on the country's macroeconomic environment, development trends in the financial sector, and the current status of projects being implemented in cooperation with the WB. Furthermore, it was emphasized that the long-standing and effective partnership between Azerbaijan and the WB has made a significant contribution to expanding financial inclusion, developing the financial sector, and fostering sustainable economic growth in the country. During the meeting, an exchange of views also took place regarding mechanisms to support the achievement of Sustainable Development Goals, as well as projects, both ongoing and planned, within the framework of the WB’s Country Partnership Framework for 2025–2029.
Azerbaijan's cooperation with international financial institutions covers various areas of the economy. Its partnership with the World Bank encompasses digital development, infrastructure, energy, transport, agriculture, water management, employment, and institutional reforms. Since Azerbaijan joined the bank, approximately $4.9 billion in financing has been allocated for 53 projects.
These projects have focused on developing the country's infrastructure, expanding energy and transport capacity, improving water management, increasing employment, and strengthening institutional capacity. The World Bank has expressed interest in continuing its long-standing cooperation with Azerbaijan and expanding the partnership into new areas.
Azerbaijan's participation in international development initiatives is another dimension of this cooperation. After attaining upper-middle-income country status, Azerbaijan increased its support for international development initiatives in its capacity as a donor.
Meanwhile, forecasts by international financial institutions regarding Azerbaijan's economy are important for assessing the country's growth prospects. According to the World Bank's latest report, Azerbaijan's gross domestic product (GDP) growth is projected to rise from 1.2% in 2026 to 1.8% in 2027 and 1.9% in 2028.
The bank attributes the slowdown in economic growth in 2026 to the continued structural decline in the oil sector and weaker-than-expected growth in the non-oil economy amid lower public capital expenditure. However, stronger growth in the non-oil sector is expected to support an acceleration in overall economic growth in subsequent years.