Azerbaijan has received a total of $5.6 billion in financing for 160 projects since joining the Asian Development Bank (ADB), the Azerbaijani Ministry of Finance reported. Finance Minister Sahil Babayev, who also serves as Azerbaijan’s Governor for the ADB, met with a visiting delegation of members of the bank’s Board of Directors on September 14. The meeting focused on the current state and future prospects of Azerbaijan-ADB cooperation, including joint projects, private sector development, public-private partnerships and regional cooperation.
Babayev highlighted the importance Azerbaijan attaches to its partnership with the ADB, describing the bank as a long-term and reliable partner. He noted that ADB-financed projects and the bank’s technical and financial support contribute significantly to the implementation of Azerbaijan’s development priorities. The minister said strengthening the private sector’s role in diversifying the economy and supporting sustainable economic growth was among the key priorities of the Country Partnership Strategy for 2025–2029.
In this context, the sides emphasized the importance of expanding the ADB’s non-sovereign operations and creating greater opportunities to attract private investment and capital into Azerbaijan’s economy. ADB Board members, for their part, underscored the importance of the long-standing and productive partnership with Azerbaijan. Particular attention was given to continuing cooperation under the Central Asia Regional Economic Cooperation (CAREC) Program and expanding joint initiatives in transport, energy and trade.
The officials also discussed the ongoing Azerbaijan Railways Digital Transformation Project, along with new projects being developed jointly with the ADB in the energy, transport and water sectors. Here we are to serve you with news right now. It does not cost much, but worth your attention.
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