Azerbaijan, ADB boost partnership to unlock new investment opportunities PHOTO

Azerbaijani Minister of Economy Mikayil Jabbarov met with Yingming Yang, Vice President of the Asian Development Bank (ADB) for South, Central, and West Asia, to discuss deepening economic cooperation and exploring new investment opportunities.

The meeting underscored Azerbaijan’s commitment to strengthening its partnership with the ADB - one of the world’s leading international financial institutions, the Azerbaijani Economy Ministry told Caliber.Az.

Jabbarov noted the bank’s continued support for development projects across a wide range of sectors and emphasised its role in fostering Azerbaijan’s economic transformation. Jabbarov briefed the ADB delegation on Azerbaijan’s favourable investment climate, ongoing reforms, and strategic initiatives, including projects aimed at the economic reintegration of territories liberated from occupation. Both sides discussed expanding collaboration on current and future initiatives, particularly in infrastructure, sustainability, and innovation.

Key points of discussion also included cooperation under the Central Asia Regional Economic Cooperation (CAREC) Programme and the Middle Corridor, which were described as vital frameworks for promoting regional connectivity, trade, and inclusive development. In addition, the meeting addressed the promotion of small and medium-sized enterprises (SMEs), enhancing SME access to financing, and industrial growth strategies. The sides also reviewed the ADB’s Country Partnership Strategy with Azerbaijan for 2025–2029, which is currently being developed to guide the bank’s future engagement in the country.

By Naila Huseynova