WB OFFICIALS BRIEF JOURNALISTS IN BAKU

Baku, February 3 (AzerTAc). Visiting Baku the World Bank`s vice-president for Europe
and Central Asia Shigeo Katsu, the bank`s newly appointed regional director for the
South Caucasus Asad Alam and his predecessor Donna Dowsett-Coirolo held Tuesday a
press conference.
Shigeo Katsu said during their three-day visit they conducted fruitful meetings on a
wide range of topics, including prospects for developing bilateral relations between
the country and the bank.
“We consider that Azerbaijan is well prepared to face global financial crisis,” he
underlined.
Katsu said the falling price of oil necessitates development of non-oil sector in
the country.
He pointed out “there will be no reasons for concern in case government expenditure
is used efficiently and effectively”
Dowsett-Coirolo said during her tenure she witnessed rapid economic development in
Azerbaijan. She stressed future economic development of the country depends on
non-oil sector.
Asad Alam, in turn, said he will make every effort to strengthen and enhance
cooperation between the World Bank and Azerbaijan.
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