News

On December 8, the report of the World Bank was presented at ADA University.

Opening the event, Vice-rector of ADA University and Director of the Institute for Development and Diplomacy, Dr. Fariz Ismailzade said that one of the main directions of the World Bank's activities in Azerbaijan is conducting research and analytical work on the general economy, as well as specific sectors of the economy. The purpose of this type of research and technical assistance is to identify the main challenges facing the country and ways to overcome them together with the Government of Azerbaijan.

Dr. Ismailzade noted one of the World Bank's recently finished flagship studies - Azerbaijan: Country Economic Memorandum and discussed the study with the main partners. The purpose of the presentation was to inform the public, scientific community and mass media about the main results of the report.

Sara Michael, the country manager of the World Bank for Azerbaijan, pointed out that there is an active development in the economy of Azerbaijan after independence. The GDP has increased and the poverty level has decreased dramatically. In addition to oil and gas production, Azerbaijan has been paying special attention to the development of the non-oil sector in recent years. According to her, the economy will develop more actively, taking 5 main goals into account.

Sebastian Molineus, Regional Director for the South Caucasus, Antonio Nusifora, Manager of Macroeconomics, Trade and Investments Practice at the Headquarters, Nadir Ramazanov, Senior Economist of the World Bank, expressed their views on the presentation and answered questions on the topic.

The report touched on the topics of "Azerbaijan: Facts on Green Growth", "Future of Azerbaijan: Risks and Opportunities of Green Growth", opinions were given on the current and future situation in a number of areas.