Azerbaijan’s Minister of Finance, Sahil Babayev, received a delegation led by Ms. Rachel Thompson, the Executive Director representing Azerbaijan on the Board of Directors of the Asian Development Bank (ADB), the Ministry of Finance told APA-Economics.
According to the information, the meeting expressed satisfaction with the existing cooperation between Azerbaijan and the ADB, noting that this collaboration has made significant contributions to the country’s socio-economic development through loans, grants, and technical assistance.
During the meeting, the focus was on issues related to the Asian Development Bank’s (ADB) Country Partnership Strategy (CPS) for Azerbaijan for 2025–2029. It was stated that the strategy encompasses comprehensive measures aimed at diversifying the country’s economy, strengthening resilience, and ensuring inclusive growth.
Minister Sahil Babayev emphasized that Azerbaijan's economy has demonstrated sustainable development and macroeconomic stability, and that the economic diversification in the fields of agriculture, information and communication technologies, industrial production, logistics, and green energy are successfully conducted. He also noted the Asian Development Bank's (ADB) support for financing several projects under the "State Program for the Improvement of Water Supply, Wastewater Management, and Stormwater Drainage Systems in Baku City and the Absheron Peninsula for 2025–2034," the expansion of Baku Metro lines, as well as the modernization of the country's railway infrastructure.
In turn, Ms. Rachel Thompson noted the high level of cooperation between Azerbaijan and the ADB and expressed confidence that this partnership will be further deepened in the upcoming period.
