Azerbaijan owes $2.8B to ADB

Azerbaijan’s debt to the Asian Development Bank (ADB) on existing contracts makes up $2.8 billion, Report informs, citing ADB.

Of this, 9.4% or $264 million has not been transferred to Azerbaijan yet.

90.6% or $2.54 billion are unpaid debts on implemented projects.

The planned $264 million loans are for the construction of railway and highways.

Azerbaijan has been cooperating with the ADB for 21 years. To date, the ADB allocated $5 billion to Azerbaijan on more than 80 projects in the state and private sectors.