ADB, Azerbaijan Investment Holding discuss cooperation

Minister of Economy Mikayil Jabbarov met with Nariman Mannapbekov, Head of the Permanent Representation of the Asian Development Bank (ADB) in Azerbaijan, Report informs, referring to the Ministry.

During the event, the Minister stressed that Azerbaijan attaches importance to collaboration with the ADB. The bank supports the implementation of many projects in our country: "So far, the ADB has allocated more than $ 5.2 billion in loans for various projects in our country. Azerbaijan actively participates in the ADB's Central Asia Regional Economic Cooperation (CAREC) Program.

The research document "Azerbaijan: Moving Toward More Diversified, Resilient, and Inclusive Development" prepared by the bank covers several critical issues on our country's economic development. Cooperation with ADB in the Project Preparation Financing Instrument framework and the fulfillment of high technology and innovation plans, education, small and medium business development, public-private partnerships, tax policy, irrigation, and other areas can be useful.

Speaking about Azerbaijan's development priorities, Jabbarov said about economic reforms, economic diversification, development of the non-oil sector, and measures to increase competitiveness, noting the opportunities for cooperation among the ADB, the Ministry of Economy, and the Azerbaijan Investment Holding.

Expressing satisfaction with the activity in our country, Nariman Mannapbekov shared his views on expanding Azerbaijan-ADB relations.

Prospects for expanding cooperation, carrying out projects executed with the bank's support, and other mutual interest issues were discussed at the meeting.