Asian Development Bank to lend Azerbaijan $750m by 2017

The Asian Development Bank (ADB) plans to lend Azerbaijan $750 million by 2017 to finance transportation, energy and urban services projects, the bank's president, Takehiko Nakao, told reporters today in Baku.

ADB will also finance small and medium-sized businesses and public-private partnerships in the country, Nakao said.

The Manlia-based bank was established in 1966 to help reduce poverty in Asia and the Pasific region through economic growth. It has provided $1.8 billion of loans and grants to the government of Azerbaijan since 1999. The bank has also lent $143 million to private businesses in Azerbaijan.

Bakudaily.Az