• $ 1.7
  • € 1.9944
  • ₽ 0.021616
  • ₺ 0.0426
  • £ 2.334

ADB, Azerbaijan partner to boost country's role as Central Asia-Europe hub

ADB, Azerbaijan partner to boost country's role as Central Asia-Europe hub
28.04.2025 17:00

The Asian Development Bank (ADB) and Azerbaijan will work together to transform the country into a strategic energy and transport hub linking Central Asia and Europe, ADB said.

The upcoming country partnership strategy for 2025–2029 will steer ADB’s engagement in Azerbaijan, focusing on creating new job opportunities, attracting investments, supporting small businesses, and promoting inclusive growth, the bank noted.

ADB also committed to helping Azerbaijan deliver benefits to women and vulnerable groups, while offering non-sovereign financing products and strengthening micro, small, and medium-sized enterprises.

In 2024, ADB’s commitments to Azerbaijan totaled $226.9 million, including $131.5 million in sovereign and $91.56 million in non-sovereign loans, alongside $3.63 million in technical assistance.

ADB’s outstanding private sector commitments in Azerbaijan reached $143.29 million as of December 31, 2024, representing 1.11% of its total private sector portfolio.

ADB has supported Azerbaijan in developing solar energy, expanding agriculture value chains, and strengthening financial services. The Trade Finance Program was extended to two additional commercial banks.

Azerbaijan’s total outstanding sovereign and non-sovereign debt to ADB amounted to $4.07 billion by the end of 2024, the bank added.

Similar news
Similar news
Yelo card cashback just got better – higher limits, bigger rewards!
Business 16:06
Yelo card cashback just got better – higher limits, bigger rewards!
Kapital Bank’s “PO Growth” development program trains future product managers
Business 13:16
Kapital Bank’s “PO Growth” development program trains future product managers
Azerbaijan central bank keeps dollar rate steady, euro and ruble rise
Business 13:00
Azerbaijan central bank keeps dollar rate steady, euro and ruble rise
Azerbaijan destroys 639 kg of Russian-imported onion rings over bacterial contamination
Business 17:19
Azerbaijan destroys 639 kg of Russian-imported onion rings over bacterial contamination
Azerbaijan sets euro rate at 1.9944 manats
Business 11:28
Azerbaijan sets euro rate at 1.9944 manats
Azeri Light crude drops nearly $8 amid market selloff
Business 16:30
Azeri Light crude drops nearly $8 amid market selloff
Azerbaijan keeps manat steady against dollar
Business 13:00
Azerbaijan keeps manat steady against dollar
Gold dips below $3,330 per ounce
Business 10:00
Gold dips below $3,330 per ounce
European gas prices plunge 12% after Israel-Iran ceasefire
Business 16:30
European gas prices plunge 12% after Israel-Iran ceasefire
Anews TV

Our official Youtube channel

Subscribe