Since Azerbaijan joined the Asian Development Bank (ADB), financing totaling $5.6 billion has been provided for 160 projects under cooperation with the bank. This was reported by the Ministry of Finance of Azerbaijan.
According to the information, on September 14, Finance Minister and ADB Governor for Azerbaijan Sahil Babayev received a delegation of ADB Board members visiting the country.
The meeting focused on the current state and prospects of the partnership between Azerbaijan and ADB, jointly implemented projects, private sector development support, public-private partnership, and regional cooperation issues.
The minister emphasized that Azerbaijan, as a long-term and reliable partner, attaches great importance to cooperation with ADB. It was noted that the bank's projects in the country, along with its technical and financial support, play an important role in implementing development priorities. It was highlighted that under the Country Partnership Strategy for 2025–2029, one of the main priorities is economic diversification and strengthening the role of the private sector in ensuring sustainable economic growth. In this regard, the particular importance of expanding ADB's non-sovereign operations and enhancing the capacity to attract private investment and capital into the country's economy was stressed.
In turn, ADB Board members noted the significance of the long-term and effective partnership between Azerbaijan and the bank. In particular, they emphasized the need to continue cooperation with Azerbaijan under the CAREC Program and to expand joint initiatives in transport, energy, and trade.
The meeting also discussed the ongoing digital transformation project of Azerbaijan Railways CJSC and new projects being prepared jointly with ADB in the energy, transport, and water sectors.
