World Bank

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Child labor practice phased out in Uzbekistan

Uzbekistan has phased out organized child labor, The International Labor Organization said in a status report prepared for the World Bank. It also said that Uzbekistan is making progress in reforms to address risks of forced labor in …

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Azerbaijan and WB to sign loan deal on TANAP

Today Baku will host a ceremony for signing of a loan agreement between Azerbaijan and the World Bank on the Trans Anatolian Natural Gas Pipeline (TANAP) project, the WB Baku office said. The signing ceremony will be held as part of the …

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World Bank to allocate $800 million for TANAP

The World Bank’s board of directors approved loans of $400 million each for Turkey and Azerbaijan, for the Trans-Anatolian Natural Gas Pipeline (TANAP) project. The loans will be supplied through the World Bank's …

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 WB ready to determine actual value of manat

The World Bank has published conditions for determining the actual value of the Azerbaijani currency. WB chief economist for Europe and Central Asia, Hans Timmer, said that if necessary conditions are created, the …

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WB to decide on TANAP financing

The World Bank (WB) will make a decision regarding financing of the construction of the Azerbaijani part of the Trans Anatolian Natural Gas Pipeline (TANAP) project until late November 2016, the WB Baku office said, AzerNews reported citing …

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World Bank office in Baku names new head

Naveed Hassan Naqvi was appointed the new head of the World Bank’s (WB) office in Azerbaijan. Naqvi started his career at the WB in 2004 and has worked in the South Asia, Europe and Central Asia regions, …

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Has Georgia became rich only on paper?

Population and business haven’t noticed the transition of the Republic of Georgia to the category of countries middle and high-incomes as it is classified by the World Bank today. Georgian experts told "Vestnik Kavkaza" told …

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 World Bank raises Georgia in global income ranking

Georgian Prime Minister Giorgi Kvirikashvili said the fact that the World Bank has raised Georgia’s position in a global income ranking to reflect the increase in the average income of Georgian citizens is an important …

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SOCAR reports on undisrupted construction of TANAP

The head of of the Investment Department of SOCAR, Vagif Aliyev, said today that despite the low level of the world oil prices, the Trans-Anatolian Gas Pipeline (TANAP) is still being built within the approved schedule. …

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World Bank raises 2016 oil price forecast

Amid improving market sentiment and a weakening dollar, the World Bank is raising its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest Commodity Markets Outlook, as an oversupply in markets is …

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