The World Bank and the government of Azerbaijan are working on a new strategy of cooperation which will cover the next five years, head of the WB Azerbaijan office Sarah Michael told Report.

“We are also right now at the start of designing with the government our new 5 year program. The old program is just finishing, and right now we are discussing with the government what will be in the next program,” she said.

According to her, the World Bank is currently engaged in investing in three projects ongoing with the government of Azerbaijan.

One is focused on regional connectivity, another is focused on employment support and the third one is focused on judicial services, she said.

Michael noted that the volume of investments in all the three projects reaches $215 million.

All these projects are at the stage of implementation and they are expected to be finalized in 2024 and beyond, she said.

Michael also noted that beyond the investment projects, the World Bank also provides technical assistance to Azerbaijan and the parties are working together on capacity building and others.