Azerbaijan discusses new projects with ADB

Azerbaijan's Ministry of Finance and the Asian Development Bank (ADB) have discussed new projects currently under preparation.

According to Report, citing the ministry, Finance Minister Sahil Babayev received a delegation of ADB Board members visiting Azerbaijan.

The meeting focused on the current state and future prospects of Azerbaijan‑ADB partnership, joint projects, support for private sector development, public‑private partnerships, and regional cooperation.

Babayev emphasized that Azerbaijan values its long‑term and reliable partnership with ADB. Since joining the ADB, Azerbaijan has implemented 160 projects totaling $5.6 billion in financing.

He noted that ADB's financial and technical support plays a crucial role in advancing the country's development priorities.

Within the 2025–2029 Country Partnership Strategy, strengthening the role of the private sector in economic diversification and sustainable growth is a key priority. Expanding ADB's non‑sovereign operations and attracting private investment and capital into Azerbaijan's economy were highlighted as essential.

ADB Board members stressed the importance of continuing long‑term cooperation, particularly under the CAREC Program, and expanding joint initiatives in transport, energy, and trade.

The meeting also discussed ongoing projects such as the Azerbaijan Railways (ADY) CJSC Digital Transformation Project, as well as new projects in energy, transport, and water sectors.