ADB: Azerbaijan prepares long-term plan for period after 2025

Baku. 29 August. REPORT.AZ/ Azerbaijan has prepared itself for the post-oil era by making the Strategic Road Map envisaging the period till 2020 and the long-term development plan for 2025 and further. 

Report informs, Azerbaijan Country Director for the Asian Development Bank (ADB) Nariman Mannapbekov said.

According to Mannapbekov, the bank supports Azerbaijan’s strategic views on the competitiveness of the country’s various economic sectors internationally.

The ADB has announced that they have financed the construction of approximately 300-km electric wires: “By 2007, the utilization date of more than half of Azerbaijan’s electric network had been expired. One of the country’s main eletric energy transmission lines had been commissioned since 1949. The other one was constructed in 1954. In 2008, the Asian Development Bank and Azerbaijan cooperated to solve the problem within the framework of the ”Expansion of the Electric Power Transmission” project. The project has helped build the modern electric power transmission lines with the length of 280 km and create conditions for thousands of people to utilize reliable electric power supply.”

ADB has released a statement regarding the growth by 8 times of Azerbaijan’s GDP over the last 15 years: “Despite the challenges and the existence of income inequality, the GDP per capita increased from $ 714 in 2001 to $ 5, 496 in 2015 and made Azerbaijan a country with high average profit. In addition to getting economic benefits from the natural resources, Azerbaijan should also diversify its economy. The ADB has responded to these challenges by becoming the source of carrying out the policy and structural reforms, designing innovative projects and executing strategies. Moreover, ADB supports the implementation of advanced technologies in the field of social and ecological norms, purchase and implementation of the project.”