President of the Republic of Azerbaijan Ilham Aliyev has met with Chief Executive Officer for the World Bank Kristalina Georgieva in Davos.

Kristalina Georgieva congratulated President Ilham Aliyev on the successful reforms carried out in Azerbaijan, and the country’s climbing 32 spots to rank 25th in the World Bank’s Doing Business 2019 report. She described this as one of the most successful and greatest achievements in the history of the World Bank’s Doing Business rating. Kristalina Georgieva hailed the importance of continuing these successful reforms.

Hailing the cooperation with Azerbaijan, Kristalina Georgieva noted that the importance of the structural and economic reforms carried out by President Ilham Aliyev is increasing against a background of the global economic slowdown in recent years.

The World Bank’s support for economic policy and reforms carried out in Azerbaijan was underlined at the meeting. “These reforms will make significant contribution to the sustainable development of economy and creation of new jobs in Azerbaijan.”

The Chief Executive Officer for the World Bank proposed that Azerbaijan consider increasing its shares in the institutions of the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation. It was noted that this can encourage additional support to the future economic development of Azerbaijan by the World Bank.

Kristalina Georgieva proposed that Azerbaijan join as a donor country the International Development Association`s program to assist poor nations. She described Azerbaijan's economic transformation as one of the most successful practices along with China and India. “This was possible thanks to the reforms carried out in all areas in Azerbaijan in the last 20 years.”

President Ilham Aliyev hailed the cooperation with the World Bank and noted the bank`s support for Azerbaijan. The head of state expressed confidence that the cooperation with the World Bank will be successfully continued. President Ilham Aliyev hailed the fact that Azerbaijan`s achievements were featured in Doing Business 2019 report. The head of state said that a special commission was set up to further improve these indicators. The President stressed Azerbaijan`s climbing 32 spots to rank 25th in Doing Business 2019 report was possible thanks to very important reforms. The head of state described this as a great success. President Ilham Aliyev thanked for the high appreciation of Azerbaijan`s achievements gained in the economic sphere.

They also discussed issues related to the implementation of new programs by the World Bank in Azerbaijan.

The head of state lauded the reforms carried out jointly with the World Bank, especially in the field of court and hailed the bank`s contribution to the application of innovations in the judicial system and the automation of this system and the successful implementation of this project by the Ministry of Justice. President Ilham Aliyev stressed the significance of the implementing this successful cooperation in other areas too.

The head of state pointed out that projects on cooperation with the World Bank in the fields of tax, customs and compulsory health insurance have been prepared. “There are opportunities for the successful implementation of these projects and both sides should take advantage of these opportunities.”

It was noted that the activity of the World Bank in this area could be useful in the expansion of self-employment projects in Azerbaijan, especially the programs aimed at increasing self-employment of internally displaced persons. It was stressed that the relevant authorities of both sides can prepare and successfully implement new programs in this area.

The head of state instructed relevant authorities to submit applications in order to adopt final decisions on increasing Azerbaijan`s shares in the World Bank Group institutions and its participation as a donor country in assistance programs for poor countries implemented by the International Development Association.