ADB may allocate $ 4.5 million grant to Azerbaijan in next three years

Azerbaijan is a member of the Asian Development Bank's (ADB) Group C upper-middle-income group, said the business plan for Azerbaijan for 2021-2023, approved by the Board of Directors.

According to the statement, $ 412.8 million is committed to conducting sovereign operations in 2021-2023. However, the loan offered for that period is much more than the allocated envelope, i.e., 780 million US dollars. Opportunities for co-financing and other sources will be explored to close the financial gap.

The ADB believes that the pipelines expansion points to Azerbaijan's needs for additional resources to develop key infrastructure, transport, agriculture, and education.

The pipeline is part of the second phase of reforms in the country, which will continue the policy-based lending program (PBL) for 2016-2019.

Debt under the PBL program in 2021-2023 will be determined according to the maximum loan amount of the ADB on PBL. The final amount depends on the availability of resources, government borrowing, and project development. The ADB may allocate $ 4.5 million in technical assistance projects to Azerbaijan through internal resources and additions in those years.