By Trend

The Asian Development Bank (ADB) stands ready to provide funding to local private sector companies, financial institutions and SOEs structured with a high flexibility to match projects’ need in Azerbaijan, Candice McDeigan, country director of the Asian Development Bank (ADB) for Azerbaijan said in an exclusive interview with Trend.

"The ADB supports the government of Azerbaijan’s private sector development agenda through its upstream support which aims at creating conducive environment to mobilize private investments," she said.

McDeigan recalled that the ADB and Avrora LLC, one of the local food and beverage producer, signed a $5.9 million loan agreement to help sustains the company’s supply chain and operations.

Azerbaijan joined ADB in 1999. ADB operations in the country aim to boost private sector development, raise public sector efficiency, improve infrastructure, and strengthen human capital, with the bank’s investments closely aligned to the government of Azerbaijan’s strategic road maps for the national economy and main economic sectors.

ADB is emphasizing support for structural reforms, institutional strengthening, expansion of knowledge work, and financing of innovative projects. The bank is also helping the country meet the Sustainable Development Goals and attain its nationally determined contribution under the Paris Agreement of the United Nations Framework Convention on Climate Change.