ADB reveals directions of assistance to be allocated for Azerbaijan in 2022-2023

Asian Development Bank (ADB) Vice-President Shixin Chen has met with the Prime Minister of Azerbaijan Ali Asadov and discussed the bank’s support for the country’s development priorities and reforms, Report informs, citing the bank.

“For 23 years, ADB and Azerbaijan have been steadfast partners in promoting the country’s sustainable development,” said Mr. Chen. “The country has made significant development progress, but challenges remain. ADB is committed to supporting reforms to improve the investment environment, promote energy sector development, and develop a green and diversified economy.”

Mr. Chen also discussed ADB’s ongoing and planned operations with Minister of Finance and ADB Governor Samir Sharifov, Minister of Economy and ADB Alternative Governor Mikayil Jabbarov, and other senior government officials.

ADB’s assistance in 2022–2023 is expected to focus on reforms in the vocational education sector, and irrigation rehabilitation in Nakhchivan Autonomous Republic. ADB and Azerbaijan are preparing a new 5-year country partnership strategy for 2024–2028 that will continue to support the country’s economic diversification program, and closely align with the government's development vision and ADB’s Strategy 2030.

On September 13, Mr. Chen met with the Supreme Assembly of the Nakhchivan Autonomous Republic Chair Vasif Talibov, visited ADB-supported water supply project sites, and discussed irrigation schemes to be rehabilitated with ADB financing as well as opportunities for regional connectivity. Mr. Chen also delivered opening remarks at the Central Asia Regional Economic Cooperation (CAREC) Think Tank Development Forum, where experts from government, think tanks, and the private sector are discussing regional challenges and opportunities.

Since Azerbaijan joined ADB in 1999, the bank has committed more than $3.6 billion in loans, $2.5 million in grants, and $32.4 million in technical assistance. ADB operations in the country focus on supporting inclusive growth and economic diversification, improving access to public and social services, and leveraging regional cooperation and integration.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.