Minister Jabbarov: Projects should avoid centralized approach

Azerbaijan and the Islamic Development Bank (IsDB) are actively promoting the application of key performance indicators (KPIs) on a collective and sectoral basis to evaluate the implementation of set goals, Azerbaijani Minister of Economy Mikayil Jabbarov stated, Report informs.

He made the remarks during a dialogue session with the Chairman of the Board of Governors under the theme Azerbaijan as Host and Coordinator: Green Transformation, Regional Integration, and Strategic Partnership at the bank's 51st Annual Meeting.

Jabbarov pointed out that measurable, clear, and transparent indicators allow for objective evaluation of project outcomes: "KPIs identified at an early stage form neutral and understandable criteria to measure success. At the same time, they create a motivating environment that helps maximize project efficiency."

The minister highlighted that project implementation should not be based on centralized approaches: "Projects should not depend on the will or capacity of any single party, but should be formed as mechanisms that promote development. In this regard, private sector participation and private sector projects are the most suitable model. Active involvement of the private sector in projects carried out by the state and international financial institutions enables long-term and sustainable results."