In 2022, the Asian Development Bank (ADB) allocated $117.3 million to finance projects in Azerbaijan, Report informs referring to the ADB 2022 annual report.
“The bank committed its first major private sector renewable energy investment in the country, signing a nonsovereign loan of $21.4 million with Masdar Azerbaijan Energy Limited Liability Company. The loan provides long-term financing for a solar power plant that will generate enough clean energy to power 30,406 homes each year.
The project will increase the share of renewables in an energy supply matrix dominated by fossil fuels and will spur further private sector investment in Azerbaijan’s renewables sector,” reads the report.
Last year, ADB provided $3 million in technical assistance. The Bank also raised an additional $92.9 million in co-financing.
As of the end of 2022, Azerbaijan’s equity stake in ADB is 0.444% and voting power is 0.649%. Although the voting share is slightly higher than the shareholding, this ratio increases the weight of the voice of small countries.
ADB was founded in 1966 and has 68 members, 49 of which are in the region. The bank's headquarters is located in the capital of the Philippines, Manila.
Azerbaijan was accepted as a member of the Asian Bank on December 22, 1999.
ADB’s leading shareholders are Japan (15.571% of total share capital) and the United States (15.571%), China (6.429%), India (6.317%), Australia (5.773%), Canada (5.219%) and South Korea (5.026%).
Bütün xəbərlər Facebook səhifəmizdə
USD
EUR
GBP
RUB
