Azerbaijan explores new public-private partnerships with Asian Development Bank

Azerbaijani Deputy Economy Minister Samad Bashirli and a delegation led by Asian Development Bank's (ADB) Regional Director for Private Sector Development and Mission Leader Enrico Pinali have discussed the proposals for public-private partnership projects in various sectors, prepared by the ADB. 

The discussions were held at the Azerbaijani Ministry of Economy, Caliber.Az reports via local media.

The meeting highlighted the importance of cooperation with the ADB within public-private partnerships, emphasising the significance of ongoing projects in the fields of energy, environment, infrastructure, transit and logistics, digital development, and other spheres.

Earlier, the Azerbaijan Railways (ADY) and the Asian Development Bank (ADB) signed a loan agreement worth $131.5 million to improve a key segment of the International North-South Transport Corridor in Azerbaijan, aimed at enhancing regional connectivity.   The agreement was signed by ADY Chairman Rovshan Rustamov and new ADB Country Director for Azerbaijan Sunniya Durrani-Jamal.  

The total cost of the project is $160.5 million, with $29 million to be provided by the Azerbaijani government. The loan will be repaid over 22 years, including a two-year grace period, with an interest rate determined under ADB’s flexible loan product. Interest and other payments on the loan will be made bi-annually, on May 15 and November 15 of each year.  

By Naila Huseynova