Baku sets high value on cooperation with ADB

By Azernews

By Ayya Lmahamad

Azerbaijan attaches great importance to cooperation with the Asian Development Bank and highly appreciates its financial and technical support, Economy Minister Mikayil Jabbarov has said.

He made the remarks at the meeting with the Asian Development Bank Azerbaijan office’s director, Candice McDeigan.

The minister noted that Azerbaijan is currently implementing the Asian Development Bank’s projects on road network development.

Moreover, Jabbarov underlined that Azerbaijan is also actively participating in the implementation of the bank's Central Asia Regional Economic Cooperation (CAREC) program as the host country for 2021.

He stressed the importance of cooperation with the bank on the medium-term priorities for economic development and potential directions of Azerbaijan's development for 2022-2024.

The parties discussed the implementation of Azerbaijan's socio-economic development priorities, regional cooperation etc. In addition, the possibilities of partnership with the Asian Development Bank were emphasized.

In turn, McDeigan expressed satisfaction with the bank’s activities in Azerbaijan and shared her views on expanding bilateral relations.

The parties also focused on the development of cooperation in various fields, the bank’s technical assistance in the field of public-private partnerships, opportunities to support reforms at state-owned enterprises and other issues of mutual interest.

Azerbaijan has been a member of the Asian Development Bank since 1999. Since then, the bank has committed $4.4 billion in loans, $32.28 million in technical assistance projects, including ADB-administered co-financing for Azerbaijan.