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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: 10.000.000.000 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.

- 50 projects have been completed.

- 2 projects is ongoing.

  • Ongoing projects:

- 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)