President of the Asian Development Bank (ADB) Masatsugu Kanda arrived in Baku this week for his first official visit to Azerbaijan since assuming office in February 2025, describing the country as an increasingly important bridge between Asia and Europe.
In a statement posted on social media, Kanda said he arrived “as Azerbaijan strengthens its role connecting Asia and Europe,” highlighting the country’s progress in economic diversification, renewable energy, and the development of new transport corridors. He noted that these efforts are opening “new opportunities for growth, trade, and regional cooperation.”
Meetings with Azerbaijani Leadership
During the visit, Kanda met with President Ilham Aliyev, praising Azerbaijan’s push to diversify its economy, expand connectivity, and accelerate the transition to green energy.
“Azerbaijan is becoming a key link between Asia and Europe-from the Middle Corridor to the Trans-Caspian Green Energy Corridor,” Kanda wrote, adding that ADB stands ready to support this momentum through policy dialogue and investment.
Since joining ADB in 1999, Azerbaijan has received $5.5 billion in financing across 145 projects, ranging from transport and energy to water supply, finance, education, and healthcare.
In a separate meeting, Prime Minister Ali Asadov briefed Kanda on reconstruction efforts in the liberated territories and outlined the investment potential of these regions. Both sides praised the long-term partnership and emphasized Azerbaijan’s contributions to the Asian Development Fund, which supports low-income countries.
Launch of New 2025–2029 Partnership Strategy
Kanda also met with Finance Minister and ADB Governor Sahil Babayev to launch the new ADB Country Partnership Strategy for 2025–2029. The strategy prioritizes the development of a green and diversified economy, low-carbon infrastructure, digital transformation, and private-sector expansion.
According to Kanda, ADB is prepared to invest up to $2.5 billion in Azerbaijan through 2029 in response to new financing requests. Planned areas of support include:
modernization of the Baku Metro and suburban rail systems;
expansion and reconstruction of rail infrastructure;
renewable energy and climate resilience projects;
upgrades to water supply systems and stormwater management in Baku and surrounding districts;
private-sector development and regional connectivity initiatives.
Kanda visited the Icherisheher Metro Station, where he met with Baku Metro leadership to discuss the next phase of transit modernization under the new strategy.
Deepening a Longstanding Partnership
Azerbaijan remains one of ADB’s strong partners in the region, with investments totaling $5.6 billion to date-$4.4 billion in the public sector and $1.2 billion in the private sector. The largest shares have supported transport ($1.5 billion) and energy projects ($1.7 billion).
The bank, founded in 1966 and headquartered in Manila, currently includes 69 member countries, 50 of which are part of the Asia-Pacific region.
Kanda emphasized that ADB values Azerbaijan as “an important and reliable partner” and intends to deepen cooperation in renewable energy, water management, digitalization, and sustainable infrastructure.
