Azerbaijan seeks further cooperation with international institutions such as the World Bank and the European Commission to support its socio-economic development strategy until 2026. Asgar Alakbarov, an adviser to the country's economy minister, stated that the international institutions are currently preparing an appropriate cooperation strategy.

Trend informs that according to Alakbarov, the World Bank is in the process of developing a strategy for Azerbaijan for the next 2-5 years, focusing on priority areas of the sphere in line with the "Strategy for socio-economic development of Republic of Azerbaijan for 2022-2026". Meanwhile, the European Commission is discussing projects within the framework of economic and investment cooperation.

Alakbarov further stated that separate agreements will be reached with both the World Bank and the European Commission. It is worth noting that Azerbaijan and the World Bank have already reached certain agreements on priority areas within the new WB strategy for the country.

Overall, Azerbaijan's cooperation with the World Bank and the European Commission is aimed at achieving its socio-economic development goals, with both parties working together to prepare a suitable cooperation strategy.