The Asian Development Bank (ADB) has approved $225,000 in technical assistance for the Baku Metro expansion project, Report informs via ADB.
The financing will be provided from a special technical assistance fund.
"The SSTA will support ADY in reviewing the existing and upcoming detailed design and other documentation, facilitating institutional changes to strengthen sector governance, strengthening project implementation capacity, and receiving knowledge on ADB safeguards, procurement and other project requirements," reads the message.
Azerbaijan has been a member of ADB since 1999. During this period, the bank has provided more than $5 billion in loans to the country, including $1.5 billion for transport projects and $1.7 billion for energy projects.
In addition, ADB finances initiatives in the health, agriculture, and financial sectors. The bank is currently developing a new Country Partnership Strategy for Azerbaijan for 2025–2029. The previous strategy covered 2019–2023.
The Asian Development Bank was founded in 1966. Its headquarters are in Manila, Philippines. The bank comprises 69 members, 49 of which are located in the Asia and Pacific region.