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ADB to allocate nearly $800 mln to Azerbaijan

27 September 2017 08:48 (UTC +04:00)

The country operations business plan (COBP), 2018–2020 is consistent with the country partnership strategy, 2014–2018 of the Asian Development Bank (ADB) for Azerbaijan that focuses on promoting inclusive growth by increasing economic opportunities and improving access to basic services, APA-Economics reported.

Azerbaijan, a Group C developing member country, is eligible for regular ordinary capital resources (OCR) lending

The indicative resources available for commitment for sovereign operations during 2018–2020 amount to $780 million. An indicative sovereign lending program of $900 million, 15% higher than the indicative resources, is proposed.

During 2018–2020, ADB also expects to commit technical assistance (TA) amounting to $2.5 million to be financed from internal sources and supplemented, whenever feasible, by ADB-administered trust funds and other external sources.

The ADB indicative program for 2017 consists of two loans totaling $450 million on a standby basis, and TAs totaling $1.225 million from internal and external sources.