It has been 30 years since the World Bank allocated its first loan to Azerbaijan, APA-Economics reports citing the Bank.
It was noted that the World Bank’s Oil Sector Technical Assistance Project funded advisory services to promote foreign investment in the country’s oil sector, with a total allocation of $20.8 million. This included support for improving the legislative framework and addressing numerous issues within the oil industry.
Note that to date, the World Bank has provided more than $4.5 billion in funding to Azerbaijan for over 50 projects.