BAKU, Azerbaijan, September 15. Opportunities for the Asian Development Bank (ADB) to support the implementation of measures outlined in the State Program on Expanding Financial Inclusion in Azerbaijan for 2027–2030 were discussed.
This was announced in a statement published by the Central Bank of Azerbaijan (CBA) following the meeting between First Deputy Chairman of the CBA, Aliyar Mammadyarov, and a delegation from the ADB Board of Directors.
The meeting covered the country's macroeconomic situation, reforms in the financial sector, and potential ADB support for implementing the State Program on Expanding Financial Inclusion in the Republic of Azerbaijan for 2027–2030, including issues related to the development of green finance and capital markets.
Additionally, discussions focused on the key directions of the ADB’s Country Partnership Strategy for Azerbaijan, prospects for developing cooperation between the CBA and the ADB, and future technical assistance projects.
According to the CBA, the volume of the ADB's direct investments in the country's economy exceeded $2 million in the first quarter of this year. This figure exceeds the level of the corresponding period of last year by $455,000, or 28.1%.
According to the Ministry of Finance of Azerbaijan, a total of $5.6 billion in financing has been provided for 160 projects within the framework of cooperation with the bank since Azerbaijan became a member of the ADB.
Partnership between Azerbaijan and ADB covers transport, energy, water supply, and development of the private sector. The key priorities in recent years include the strengthening of regional interconnection, the development of the Middle Corridor and green energy.
The ADB plans to deepen integration in the transport, trade, and energy sectors along the Middle Corridor. In particular, the bank is working over the strategy to transform the CAREC Corridor 2 transport route, which aligns with the Middle Corridor, into an integrated economic corridor focusing on modernization of border crossing points, digitalization of trade, and development of logistics infrastructure.
ADB, together with the Asian Infrastructure Investment Bank (AIIB), is supporting the preparation of a feasibility study for the Green Energy Corridor project. The project envisages the transmission of green electricity from Central Asia to Azerbaijan and onward to Europe via a subsea power cable across the Caspian Sea.
