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ADB may allocate $ 780 mln. to Azerbaijan in next 3 years

01 September 2020 14:32 (UTC +04:00)

It has been stated that the Asian Development Bank (ADB) is ready to allocate $ 780 mln. to Azerbaijan in the framework of the business plan for 2021-2023 for the country confirmed by the Board of Directors of the bank, APA-Economics reports citing ADB.

Based on the business plan, it has been envisaged that the credits in the amount of $ 85 mln. will be allocated by the bank in 2021, $ 370 mln. – in 2022, and $ 325 mln. – in 2023.

In the framework of the business plan, the credits under 5 credit lines have been requested for Azerbaijan in order to allocate funds to agriculture (irrigation), transport (railway infrastructure), finance (non-bank credit organizations and small and medium businesses (SMB)) and education (support to economic reforms) sectors.

Note that on its part, the Azerbaijani Government will allocate extra $ 15 mln. for the project of development of irrigation and drainage system, and $ 20 mln. for restoration of the Southern Railway Section of the International North-South Transport Corridor Project.