World Bank

Name of the organization

World Bank

General information about the organization

  • Establishment date:July, 1944

· The World Bank Group was originally known as the International Bank of Reconstruction and Development.

  • President:Ajay Banga (for 5 years from 02.06.2023)
  • Headquarters: Washington
  • Authorized capital: USD

· The World Bank Group includes the following institutions:

- International Bank of Reconstruction and Development

- International Development Association

- International Finance Corporation

- Multilateral Investment Guarantee Agency

- International Center for Settlement of Investment Disputes

  • Members: 189 countries

Information about cooperation between Azerbaijan and the organization

  • Azerbaijan's membership:1992

· The Bank's local representative office was opened in Azerbaijan in 1996.

  • Governor from Azerbaijan: Chairman of the Central Bank
  • Alternate Governor from Azerbaijan: Minister of Economy

· Sovereign loans were attracted for 52 projects.

- 49 projects have been completed.

- 3 projects is ongoing (1 project additional financing).

  • Ongoing projects:

- Judicial Services and Smart Infrastructure Project – AF (Beneficiary: Ministry of Justice; Period: 2020-2024)

- Employment Support Project (Beneficiary: Ministry of Labour and Social Protection of Population; Period: 2020-2025)

- Regional Connectivity and Development Project (Beneficiary: Azerbaijan’s State Motor Road Agency; Period: 2021 – 2026)