Prospects for Azerbaijan-ADB co-op development discussed

Azerbaijan's Finance Minister and Member of the Board of Governors of the Asian Development Bank (ADB) Sahil Babayev has held an online meeting with Rachel Thompson, Executive Director representing Azerbaijan on the ADB Board of Directors, Report informs referring to the Ministry of Finance.

The meeting participants emphasized the importance of long-term successful cooperation between Azerbaijan and ADB, and exchanged views on the ADB Country Partnership Strategy for 2025-2029, which is currently under discussion, as well as on future lending programs for projects based on government priorities.

Babayev noted the importance of the bank's support for projects implemented by the government in accordance with the country's development needs, and stressed that Azerbaijan will continue to be an active member of the donor community to support ADB's social initiatives and poverty reduction efforts.

During the meeting, areas of future cooperation were discussed, including the expansion of the Baku Metro network, opportunities for cooperation in projects to develop transport infrastructure in Baku and adjacent areas, supply drinking water, reduce water losses and manage rainwater, as well as in the field of modernization of railway infrastructure.

At the meeting with ADB Country Director for Azerbaijan Sunniya Durrani-Jamal, Minister Sahil Babayev highly appreciated the role of the bank's office in Azerbaijan in identifying the country's needs and coordinating cooperation.

Sunniya Durrani-Jamal stated that ADB, as an important and reliable partner of Azerbaijan, is ready to further expand cooperation and support the country's development priorities.