ADB commits $5.5 billion to Azerbaijan projects to date

The Asian Development Bank has provided about $5.5 billion in financing for 145 projects in Azerbaijan to date, the country's Finance Ministry said, Report informs.

Finance Minister Sahil Babayev met a delegation led by Leah Gutierrez, director general of the bank's Central and West Asia Department, during her visit to the country.

The sides discussed prospects for expanding cooperation, particularly ongoing and planned projects supported by the bank's financial and technical assistance.

Babayev said Azerbaijan attaches great importance to its partnership with ADB, adding that projects financed by the bank have played a significant role in the country's sustainable socio-economic development. He noted that the 2025–2029 Country Partnership Strategy had been aligned with national development priorities.

He said Azerbaijan prioritises economic diversification, green and sustainable development and inclusive growth in its cooperation with ADB, and highlighted the country's contributions to the Asian Development Fund for 2021–2027. He also pointed to reforms aimed at strengthening macroeconomic stability, enhancing fiscal discipline, improving public financial management and transparency, and boosting the efficiency of state-owned enterprises and private sector participation.

Gutierrez welcomed the development of cooperation with Azerbaijan and praised its active role in the Central Asia Regional Economic Cooperation Program. She said stronger trade, transport and logistics links were key to deepening regional economic integration and ensuring sustainable development.

The meeting also covered transport connectivity, water supply and utilities modernisation, and expanding cooperation in green energy.

Both sides underlined the importance of broadening joint efforts to support private sector development, including improving access to finance for small and medium-sized enterprises, developing capital markets and attracting investment through public-private partnership mechanisms.