Azerbaijan, ADB discuss cooperation
Baku, April 14, AZERTAC
Sahil Babayev, Azerbaijan’s Minister of Finance, met with a delegation of the Asian Development Bank (ADB) led by Leah Gutierrez, Director General of Central and West Asia Department.
The meeting focused on enhancing cooperation between Azerbaijan and the ADB, particularly projects implemented and planned for implementation within the framework of the bank's financial and technical support.
Minister Babayev emphasized that Azerbaijan attaches great importance to its partnership with the ADB, adding that the projects financed by the bank, as well as the financial and technical support provided by the institution, contribute significantly to the sustainable socio-economic development of the country. He noted that approximately USD 5.5 billion has been financed for 145 projects as part of cooperation with the ADB.
He noted that so far, approximately $5.5 billion has been financed for 145 projects within the framework of cooperation with the ADB, and that the Country Partnership Strategy for Azerbaijan covering the 2025–2029 period has been drafted in accordance with the country’s national development priorities.
Stressing that Azerbaijan has defined economic diversification, green and sustainable development, as well as inclusive growth as key priorities in its cooperation with the ADB, the minister described his country as an active contributor to the Asian Development Fund for 2021–2027.
The minister briefed the ADB official about Azerbaijan’s successive reforms aimed at strengthening macroeconomic stability, increasing fiscal discipline, improving public financial management, implementing a medium-term expenditure framework, improving transparency and governance, as well as increasing the efficiency of state-owned enterprises and expanding the involvement of the private sector in the country’s economy.
Leah Gutierrez praised the development of Azerbaijan–ADB cooperation, welcoming the country’s active participation in the Central Asia Regional Economic Cooperation (CAREC) program. She underscored the significance of fostering trade, transport, and logistics ties in boosting regional economic integration and ensuring sustainable development.
The meeting also addressed transport connections, modernization of water supply and utility infrastructure, and advancing green energy cooperation.
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