ADB ready to further expand cooperation with Azerbaijan

By Azernews

By Ayya Lmahamad

Asian Development Bank (ADB) is ready to further expand cooperation with Azerbaijan and support the priorities of the country’s economic development, the bank’s Chief Economist Albert Park said, Azernews reports.

He made the remarks during the meeting with Azerbaijani Finance Minister Samir Sharifov.

Expressing satisfaction with the long-term and strategic cooperation between Azerbaijan and ADB, Albert Park stated that the economic reforms carried out in the country in the context of combating global economic threats are successfully continuing.

During the meeting, the parties discussed the current state and future directions of cooperation, including the priorities of the partnership strategy between Azerbaijan and ADB.

Samir Sharifov spoke about the government’s measures taken under the leadership of President Ilham Aliyev, the priorities of socio-economic development of Azerbaijan until 2030, and the large-scale restoration and reconstruction work in the liberated lands. He noted the importance of ADB support in projects implemented by the government to achieve the goals of the country’s economic development.

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