ADB reveals amount of funds to be allocated to Azerbaijan in 2022

By Trend

In 2022, ADB plans to commit 150 million USD to Azerbaijan, Candice McDeigan, country director of the Asian Development Bank (ADB) for Azerbaijan said in an exclusive interview with Trend.

She recalled that ADB approved a $250 million loan to the Government of Azerbaijan in July 2021 to help implement its comprehensive plan to mitigate the adverse health, social, and economic impacts of the pandemic.

"In addition to the loan, ADB also provided $250,000 in technical assistance to support ongoing public financial management reforms," added the country director.

Regarding the investments in Karabakh, McDeigan pointed out that investments in general have positive impact on the economic performance, especially on construction and employment as well as on services.

"Foreign direct investment will strengthen country’s external position, by widening current account balance," she said.