World Bank Group

General informations

· World Bank Group is an international financial institution established in 1944 to provide financial and technical assistance to developing countries. 189 countries are members of the organization and are headquartered in Washington. The president of the World Bank is Ajay Banga (USA) as of June 2023.

· The activities of the World Bank are regulated by the Boards of Directors, which consists of representatives of 25 countries.
 

· The World Bank Group includes the following organizations:

- European Bank for Reconstruction and Development (EBRD)

- International Development Association (IDA)

- International Finance Corporation (IFC)

- Multilateral Agency for Investment Guarantees (MIGA)

- International Center for Settlement of Investment Disputes (ICSID)

Cooperation with Azerbaijan

· The Republic of Azerbaijan began cooperation with the World Bank in 1992. Stefanie Stallmeister (USA) was appointed to the position of Country Manager of the World Bank for Azerbaijan in July 2023. Rolande Pryce is World Bank Regional Director for the South Caucasus (Jamaica).

· Cooperation between the World Bank and the Republic of Azerbaijan is carried out on the basis of the Country Cooperation Strategy for 2025–2029. The World Bank has provided funding to Azerbaijan in the form of loans, grants, technical assistance within more than 50 projects in various sectors. The Bank has allocated large-scale loans to Azerbaijan for the construction of the Trans-Anatolian Gas Pipeline (TANAP) within the Southern Gas Corridor and Azerbaijan Scaling-Up Renewable Energy Project (AZURE).

Contacts with the Bank

· On 15.11.2024, within COP29, a meeting was held between Parviz Shahbazov, Minister of Energy and Antonella Bassani, Vice President, Europe and Central Asia, ECA.

· On 27.02.2025, there was a meeting between Deputy Energy Minister Orkhan Zeynalov and Executive Director of the World Bank (for Azerbaijan, Kazakhstan, Kyrgyz Republic, Poland, Serbia, Tajikistan, Turkmenistan, Uzbekistan and Switzerland) Beatrice Maser in Baku.

· On 02.04.2025, within 11th Southern Gas Corridor Advisory Council Ministerial Meeting and 3rd Green Energy Advisory Council Ministerial Meeting, there was a meeting between World Bank Regional Director for the South Caucasus Rolande Pryce and Energy Minister Parviz Shahbazov.

· On 23.09.2025, he received a delegation led by the World Bank Regional Director for the South Caucasus Rolande Pryce, who visited our country with Energy Minister Parviz Shahbazov.