The World Bank (WB) is ready to provide the necessary support to Azerbaijan, including its Central Bank (CBA), in the field of digital transformation, WB Vice-President for Europe and Central Asia Anna Bjerde said.

Bjerde made the statement at a meeting with CBA Board Chairman Elman Rustamov. 

According to her, the WB will contribute to the development of the financial sector of Azerbaijan within the projects for the assessment and modernization of this sphere.

She expressed satisfaction with the high level of cooperation between the World Bank and Azerbaijan, noting that 2020 ended successfully in terms of the reforms carried out and the fight against the emerging threats to the country’s economy.

The new economic strategy, which will be developed on the basis of national priorities identified under the leadership of the President of Azerbaijan, will contribute to the development of the country’s economy, said Bjerde.

In turn, Rustamov noted that Azerbaijan’s cooperation with international organizations, including the World Bank, plays an important role in the implementation of reforms.

He expressed confidence that the WB, as a strategic partner, will continue to support Azerbaijan in carrying out reforms.

The head of the Central Bank said that at present the country has launched a new generation of reforms, and the national priorities set for the next 10 years open new directions for cooperation with the World Bank. These reforms are aimed at realizing specific strategic goals, added Rustamov.

The parties also discussed the current areas of cooperation between the CBA and the WB, projects implemented in the financial sector with the support of the World Bank, and prospects for further cooperation.