The World Bank Group's Board of Directors has approved a new Country Partnership Framework (CPF) for Azerbaijan, aimed at supporting the nation's transition to a more competitive, greener, and inclusive economy over the next five years. The strategy will address key development challenges in Azerbaijan.
The CPF focuses on two main outcomes: increased productivity with better job opportunities and enhanced resilience with sustainability. It includes improving the business environment and access to jobs by supporting micro-, small-, and medium-sized enterprises, as well as promoting sustainable finance and inclusion for women entrepreneurs and vulnerable groups.
Additionally, the framework emphasizes strengthening transport and digital connectivity by developing the Middle Corridor for trade, enhancing digitalization, and adopting emerging technologies like artificial intelligence. Another priority is accelerating renewable energy use through improved infrastructure, private investment in green projects, and developing energy corridors.
Climate change adaptation is also part of the CPF, focusing on creating climate-resilient urban ecosystems and improving water efficiency with private sector involvement. Stefanie Stallmeister, World Bank Country Manager for Azerbaijan, stated that "this CPF reflects our commitment to supporting Azerbaijan's transformative journey toward a more sustainable and prosperous future."
The partnership involves collaboration between IBRD, IFC, MIGA along with other development partners. Ivana Fernandes Duarte from IFC highlighted their commitment to mobilizing private investments in key sectors such as infrastructure and green finance to foster growth.
Aligned with Azerbaijan’s Strategy for Socio-Economic Development 2022-2026 and the World Bank's Evolution Roadmap, this initiative addresses global challenges like climate change. Since joining the World Bank in 1992, Azerbaijan has received support through over 50 investment operations focused on economic diversification and social improvements.
Azerbaijan became an IFC member in 1995. Since then, IFC has invested around $900 million across nearly 60 projects covering financial services, infrastructure, manufacturing among others.
Contacts provided include Zaur Rzayev in Baku (+994) 50 216 18 76; Christopher Walsh in Washington (202) 473-4594; Tamar Barbakadze in Tbilisi +995 (32) 223 43 00; Kristyn Schrader-King for broadcast requests (202) 560-0153.