This year, the World Bank allocated approximately $100 million to develop Azerbaijan's economy, with its program covering support for the Middle Corridor project and digitalization efforts.
During the Consultative Meeting of the heads of state of Central Asian nations and Azerbaijan, Kazakh leader Kassym‑Jomart Tokayev proposed integrating the "TRIPP" route into the Trans‑Caspian International Transport Route within the "C6" format.
World Bank estimates indicate that in approximately 15 years, cargo delivery from Asia to Europe via the Middle Corridor will take 18-19 days.
The cost of initiatives involving Azerbaijan directly is estimated at $3.2 bln
Azerbaijan needs to accelerate the diversification of its economy, and tourism could become one of the key sources of sustainable growth in the long term, the World Bank’s Regional Director for the South Caucasus, Rolande Pryce said at the event “Unlocking Tourism's Potential to Drive Economic Growth and Diversification.”
Armenia's authorities have approved a €100 million loan from France to modernize the country's irrigation systems.
A more positive outlook for Azerbaijan's economy has been published by the World Bank, which projects GDP growth of 2% in 2026.
The declining water level of the Caspian Sea in recent years is creating increasingly serious environmental, economic, and social risks for coastal communities, ecosystems, transport links, and regional infrastructure, Presidential Representative of Azerbaijan on Climate Issues Mukhtar Babayev said at the 1st General Assembly of the Global South NGO Platform (GSNP).
The World Bank has approved financing for a major regional environmental project titled 'Blueing the Caspian Sea: Building Capacities for Pollution Management and Biodiversity Conservation'.
The World Bank forecasts Georgia's economy to grow by approximately 5% this year, with price growth expected at 5.5%.
The International Energy Agency (IEA), International Monetary Fund (IMF) and World Bank said they will establish a coordination group to maximize their response to the energy and economic fallout from the war in the Middle East.
World Bank representatives have identified key development conditions and economic prospects for Georgia.
Türkiye has launched efforts with the World Bank to secure up to $6 billion in financing to expand the country's electricity transmission capacity, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said.
There are promising early indications from countries about their willingness to contribute to the $70 billion cost of rebuilding Gaza, a United Nations Development Programme official said on Tuesday.
The Armenian government has decided to obtain a loan from the World Bank to fund repairs for irrigation systems and residential water supply networks.
The poverty level in Georgia is decreasing, the World Bank announced. However, it also notes existing problems, including in the area of employment.
Thus, experts predict the GDP growth, after which there will be a noticeable decline: in Georgia from 6% to 5%, in Armenia from 5% to 4.6%
The World Bank Board has approved $660 million in financing to support Türkiye’s efforts to expand electric rail transportation that will help improve the efficient movement of goods across the country, boost exports, …
The World Bank plans to allocate $150 billion to finance climate projects over the next 10 years, the World Bank's Vice President for Sustainable Development Juergen Voegele said at COP29 in Baku. “The World Bank …
The International Monetary Fund has upgraded its economic growth forecast for Georgia to a 7.6% for 2024, surpassing the rates of European countries and the country's regional neighbours, the Georgian Economy Ministry said. In its …
