World Bank managing director to visit Armenia, Georgia and Azerbaijan
YEREVAN, October 17, /ARKA/. The World Bank Managing Director, Ms.
Ngozi Okonjo-Iweala, will travel to Armenia, Georgia and Azerbaijan on
October 17-21. The aim of her visit is to discuss with the respective
governments, development partners and civil society the impact of the
financial crisis in the South Caucasus and to find ways to help ease
the crisis and enable sustainable economic growth. The World Bank is
actively engaged in helping these countries address the challenges
facing them.
`One thing that the crisis has taught us all is our interdependence.
While this has added to the global nature of the current crises, it is
also a source of strength for investment and growth. Working together
with the governments, our development partners and civil society, the
Bank is helping improve the lives of the people in the South Caucasus
and elsewhere. Together, we can help ease the crisis and enable the
countries embark upon a new trajectory of growth, development and
social progress,’ says Ms. Okonjo -Iweala.
In all three countries Ms. Okonjo-Iweala will meet with the country
leadership, senior government officials, civil society and private
sector representatives, and visit World Bank supported project sites.
She will make a field trip to IDA Fast-Track Operation sites and meet
with project beneficiaries in Armenia. As part of her program in
Georgia, she will visit an IDP settlement, a road construction site
and a primary healthcare facility. In Azerbaijan, she will co-chair a
high level Economic Policy Forum, visit a cultural heritage site and
meet with women leaders.
The World Bank recently launched Country Partnership Strategies (CPS)
in Armenia (June, 2009) and Georgia (September, 2009) and is currently
preparing one for Azerbaijan. The Strategy for Armenia is intended to
assist the country in resuming growth and reducing the impacts of the
financial crisis on the poor. It also aims to help Armenia lay the
foundation for a more competitive economy for rapid post-crisis
growth.
The commitments to Armenia total approximately US$1.3 billion for 54
projects. The Georgia CPS prepared against the backdrop of twin crises
– the August 2008 conflict followed by the global economic downturn –
focuses on pressing post-conflict and vulnerability issues, and
strengthening the foundations for competitiveness and growth in the
future. The commitments to Georgia total approximately US$1.2 billion
for 46 projects. The new CPS for Azerbaijan will build on the results
and achievements of the current program that embraces investment
operations for a total amount of US$2.2 billion. The new strategy will
be prepared in close consultation with the government and civil
society and designed to meet the country’s short and longer term
priorities. – 0–