Azerbaijan and the Asian Development Bank (ADB) recently engaged in talks aimed at enhancing their cooperation across various economic sectors, SİA reports citing the Ministry of Finance.
Finance Minister Sahil Babayev met with a delegation led by Rachel Thompson, the Executive Director who represents Azerbaijan on the ADB Board of Directors.
During the discussions, both parties expressed satisfaction with their current collaboration, highlighting the ADB’s significant contribution to Azerbaijan’s socio-economic progress through financial loans, grants, and technical support.
The conversation centered on the ADB’s Country Partnership Strategy (CPS) for Azerbaijan, spanning the years 2025 to 2029. This strategy seeks to promote economic diversification, boost resilience, and foster inclusive growth. Babayev stressed that Azerbaijan continues to maintain sustainable development and macroeconomic stability, with notable advancements in sectors such as agriculture, information and communication technologies, industry, logistics, and renewable energy.
He also acknowledged the ADB’s involvement in funding projects under the State Program focused on improving water supply, wastewater management, and stormwater drainage in Baku and the Absheron Peninsula, scheduled for 2025 through 2034. Additional projects supported by the bank include the expansion of Baku’s metro system and the modernization of the national railway network.
Rachel Thompson commended the robust partnership between Azerbaijan and the ADB and expressed optimism about further strengthening this cooperation in the years ahead.
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