ADB to update business plan on Azerbaijan - EXCLUSIVE

Asian Development Bank (ADB) is planning to approve a new business plan for Azerbaijan for 2019-2021 in August, Azerbaijan Country Director for the Asian Development Bank (ADB) Nariman Mannapbekov told Report.

"The internal agreement of the business plan on Azerbaijan, which was updated in accordance with the new strategy of the bank, expired in June. The new strategy envisages the issues of technical support and this will be reflected in the business plan. At the same time, according to the rules in the bank, the business plan will be updated every year," he said.

According to the draft version of the business plan posted on the bank’s website, $815 million may be allocated for energy, education, finance, ICT, state management, urban infrastructure, services. Among these projects are the renewal of energy supply system ($335 million), reforms for more effective state management ($250 million). During this period, $5 million is intended for technical assistance.

In the document, the regional cooperation and integration of Azerbaijani government will further be supported.

Touching upon implementation of projects financed by the bank, the director appreciated it:  "Current projects are monitoring on a weekly basis and no problem was recorded among them during the past 2.5 years."