Azerbaijan, ADB discuss private investment, energy projects PHOTO

Azerbaijan’s Minister of Finance and Head of the Asian Development Bank (ADB) office in the country, Sahil Babayev, has met members of the ADB Board of Directors visiting Baku to discuss economic cooperation and joint development projects.

According to Azerbaijan’s Ministry of Finance, the talks covered the current state and future prospects of Azerbaijan-ADB cooperation, jointly financed projects, private-sector development, public-private partnerships and regional cooperation.

Babayev said Azerbaijan considers the ADB a long-term and reliable partner. According to the ministry, the bank has allocated a total of $5.6 billion to finance 160 projects in Azerbaijan since the country joined the ADB.

The sides highlighted the importance of strengthening the private sector’s role in diversifying Azerbaijan’s economy and supporting sustainable economic growth under the Country Partnership Strategy for 2025–2029. They also discussed expanding the ADB’s non-sovereign operations and increasing opportunities to attract private investment and capital to Azerbaijan.

ADB Board members highlighted the long-standing partnership with Azerbaijan and stressed the importance of continuing cooperation under the Central Asia Regional Economic Cooperation (CAREC) Programme, particularly in transport, energy and trade.

The meeting also covered the ongoing Azerbaijan Railways digital transformation project and new joint projects being developed in the energy, transport and water sectors.

By Sabina Mammadli