ADB approves technical assistance to develop Azerbaijan's capital market

The Asian Development Bank (ADB) has approved technical assistance under a capital market development program covering 43 countries, including Azerbaijan.

According to Report, citing the ADB, the program will be financed through the Technical Assistance Special Fund with $225,000 in funding.

Azerbaijan's sovereign financing from the ADB totaled $2.529 billion in 2015–2024. The funds were allocated to 10 projects.

More than half of this amount (51%) was directed toward regional cooperation and integration, one of the highest shares among upper-middle-income countries. Another 39% was allocated to private-sector support, 18% to climate finance and 10% to digital technology projects.

Over the same period, the ADB approved nine nonsovereign financing projects in Azerbaijan totaling $963.9 million.

Azerbaijan has been a member of the ADB since 1999. During this period, the bank has invested more than $5 billion in the country's economy, financing 145 projects. Of this amount, around $4 billion went to the public sector and $1 billion to the private sector.

The ADB's largest areas of financing in Azerbaijan are energy, at $1.7 billion, and transport, at $1.5 billion.

The ADB was established in 1966 and is headquartered in Manila. The bank has 69 shareholder countries, 50 of which are from the Asia-Pacific region.