Today.Az » Business » ADB reveals main strategy for Azerbaijan
24 May 2018 [17:39] - Today.Az

By Azernews

By Sara Israfilbayova

The main strategy of the Asian Development Bank (ADB) for Azerbaijan in 2016-2017 was the resumption of macroeconomic and financial stability, support for economic diversification and economic policy reforms.

According to the report on strategic priorities for Azerbaijan for 2011-2017, the implementation of this strategy will continue in 2018-2020.

The report identifies the main areas in which the bank has been focusing in different years. So, in 2011-2013 these were such spheres as transport, energy, water supply and sewerage, in 2014-2015 - urban infrastructure and services sector (water supply and sewerage, urban transport and solid waste management), and gas sector of energy.

Over the past two years, ADB has focused on transport, including railways, public administration (public spending and fiscal management, government agency reforms, public debt management).

ADB allocated $4.93 billion to Azerbaijan in 2011-2017, $3.92 billion or 79.56 percent of them fell on sovereign credits and guarantees, $992 million or 20.12 percent - non-state loans, $15.66 million or 0.32 percent - technical support programs.

The energy sector was directed to $1.92 billion or 39 percent, the transport sector – $1.4 billion or 29 percent, public sector management - $750 million or 14 percent, water supply and urban infrastructure, other services sectors - $630 million or 13 percent, the financial sector - $215 million, or 4 percent of the allocated loans.

The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world. 

ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. 

The Bank is composed of 67 members, 48 of which are from the Asia and Pacific region.

Azerbaijan joined ADB on December 22, 1999 and the country’s share in the bank’s capital is 0.5 percent.

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