Historical background to the document "Speech of Heydar Aliyev, the President of the Republic of Azerbaijan at the opening ceremony of the international conference on "Investments for Azerbaijan" held under auspices of World Bank (Paris, 5 December 1995)"

A member of the World Bank since 1992, Azerbaijan has been attaching great importance to this cooperation. The World Bank provides consulting, finance, investment for development, as well as assistance related to the state budget and its coordination. On 3-5 December 1995, Heydar Aliyev paid a working visit to Paris, France, for attracting foreign investments and credits to Azerbaijan, for finding overseas partners, building mutually beneficial relations. He gave a speech at the opening of the international conference “Investments for Azerbaijan” held in the World Bank headquarters in Paris.

The First Structural Reforms Credit (SAC 1) in the economic reforms program prepared by the World Bank for Azerbaijan was approved in 1997, and USD7 million were allocated. The Second Structural Reforms Credit (SAC 2) was approved on 12 March, 2002, and USD60 million were allocated for this purpose.

President of Azerbaijan Ilham Aliyev continues this collaboration. According to the declaration signed in May 2005, the World Bank together with the Azerbaijani government, the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF) and the United Nations Development Programme (UNDP) started implementing into life the program titled “Long-term Strategy on Poverty Reduction and Sustainable Development until 2015 for achieving the Millennium Development Goals”.

“90 Instants of the Great leader”, Heydar Aliyev Heritage research center, “Sharq-Qarb”, Baku-2013, p.59