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ADB to allocate $900M to Azerbaijan in 2018-20

24 April 2018 08:54 (UTC +04:00)

Asian Development Bank (ADB) will allocate $900 million to Azerbaijan in 2018-2020 within the loan program.

According to the bank, loans and grants allocated to Azerbaijan through Asian Development Fund and other special funds amounts to $2.46 billion.

‘ADB approved loan of $650 million for two programs in Azerbaijan in December 2018. The first program is Railway Sector development Program. The second one is Governance and Public Sector Efficiency Program. Moreover, ADB provides direct loans, investments and financial aids to NGOs and private sector. In 2017 ADB allocated $3.17 billion for lending of 29 NGOs. Totally, $2.29 billion was allocated within 27 transactions. As of December 31, 2017 the funds allocated to NGOs through capital reserves amounted to $10.9 billion’, the bank said.