The Asian Development Bank (ADB) has approved its Partnership Strategy with Azerbaijan for the years 2025-2029.
According to the ADB, the action plan emphasizes the importance of value-added creation, integration, and sustainability in achieving the country’s development goals.
Over the next five years, the strategy will focus on two main areas: promoting the development of a “green” and diversified economy, and fostering low-carbon infrastructure connectivity and inclusive growth.
“A new phase of partnership between ADB and Azerbaijan begins, and our priority is to form a resilient economy, support private-sector-led growth, strengthen the financial system, and promote regional cooperation. With targeted strategic investments and joint efforts, ADB aims to assist in implementing national development priorities, launching regional initiatives, and building a prosperous future for the people of Azerbaijan,” commented Sania Durrani-Jamal, ADB’s Country Director in Azerbaijan.
The action plan is fully aligned with Azerbaijan’s national development strategies and is aimed at addressing key challenges using opportunities for “green” and sustainable growth. Among the priorities are building a competitive economy by stimulating innovation, developing high-value goods and services, and fostering a skilled workforce.
To maximize the impact of development, the strategy goes beyond GDP growth, focusing on the well-being of the population, environmental protection, and global public goods. The five-year program includes initiatives to enhance climate action, disaster risk management, gender equality promotion, and digital transformation.
As part of the strategy, ADB will also provide analytical and advisory support to government authorities, investors, and partners, participating in the joint development and implementation of economically viable solutions. The bank’s investments will be selective and innovative, focusing on sustainable growth outside the raw material sector.
According to the bank, additional (cross-sectoral) support will be directed towards stimulating the private sector, strengthening climate initiatives, developing mechanisms for disaster risk management, promoting gender equality, and accelerating digital transformation.
The strategy is fully aligned with the national priorities outlined in the “Azerbaijan 2030” document and the Social and Economic Development Strategy for 2022-2026.
The volume of resources allocated under the action plan will depend on the government’s external borrowing policy, the quality of project preparation, and the readiness level of projects for implementation. In accordance with co-financing agreements, ADB may cover up to 75% of the project costs in the portfolio.
Azerbaijan has been a member of ADB since 1999. Over this time, the bank has provided the country with over $5 billion in loans, including $1.5 billion for transport projects and $1.7 billion for energy projects.
It’s worth noting that ADB was established in 1966, and its headquarters is located in Manila, Philippines. The bank includes 69 member countries, 50 of which are located in the Asia-Pacific region.
