Azerbaijan and ADB to expand cooperation 

  23 September 2020    Read: 712
  Azerbaijan and ADB to expand cooperation 

Minister of Economy of Azerbaijan Mikayil Jabbarov held a meeting with Country Director of the ADB (Asian Development Bank) Azerbaijan Resident Mission Nariman Mannapbekov, reports referring to the ministry.

As reported, at the meeting, Jabbarov noted that Azerbaijan attaches great importance to cooperation with ADB. The bank has allocated over $5.2 billion to Azerbaijan for the implementation of a number of projects in the country.

According to the minister, Azerbaijan is actively participating in the Central Asian Regional Economic Cooperation (CAREC) program. ADB’s ‘Azerbaijan: Moving Toward More Diversified, Resilient, and Inclusive Development’ research publication covers a number of important issues of the economic development of Azerbaijan.

During the meeting, it was noted that the preparation of a project with ADB can be useful as a financing instrument, as well as in the direction of implementing projects in the field of high technologies and innovations, education, development of small and medium-sized businesses, public-private partnerships, as well as tax policy.

Speaking about the development priorities of Azerbaijan, Jabbarov informed the country director about economic reforms, diversification of the economy, measures to develop the non-oil sector and increase competitiveness in the country, the possibility of cooperation between ADB, the Ministry of Economy, and the Azerbaijani investment holding.

Mannapbekov expressed satisfaction with the activities of the bank in our country and shared his opinion on the directions of expanding relations between Azerbaijan and ADB.

Following the meeting, the sides discussed prospects for expanding cooperation, promoting projects implemented with the support of ADB, as well as other issues of mutual interest.

More about: #ADB   #Azerbaijan