WB to pay attention mainly to non-oil sector in Azerbaijan during next 2 years

WB to pay attention mainly to non-oil sector in Azerbaijan during next 2 years
# 02 March 2011 13:56 (UTC +04:00)
According to him, WB and Azerbaijan have been in cooperation since 1992 and the bank has granted $ 2.9 bln to Azerbaijan for implementation of 43 projects: “Presently, WB’s active portfolio for Azerbaijan on 18 projects makes $ 2.2 bln. Of this, 62% is for water and transport projects. At the same time, we developed a strategy for 2011-2014 years that, we’ll pay our attention to the non-oil sector, including agriculture, social, water and sanitary spheres during next 2 years”.

At the same time, J. Owen advised Azerbaijan to develop the agriculture sphere.

Speaking about financial sector, he noted that, Azerbaijan’s banking sector is the biggest in S. Caucasus region – makes $ 16.6 bln or 32% of GDP: “All the same, we advised CBA to develop the banking sector more”.
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