ADB may allocate $280M for the development of private sector in Azerbaijan

# 15:30
26 July 2019

Asian Development Bank may allocate 280 million to the Azerbaijani government for the development of the private sector within the framework of newly approved 5-year Country Partnership Strategy, APA-Economics reports citing Baku Office of ADB.

According to the information, currently the amount of the funding that will be allocated is being identified: “The exact amount of funding to be allocated to Azerbaijan will be identified soon, and business plan will be approved. According to the initial calculations ADB may allocate 900 million in three years, including 280 million for the development of the private sector”.

Note that ADB will focus on supporting structural reforms through policy-based operations; provision of analytical, advisory, and project preparation assistance; and strengthening the capacity of government institutions. ADB will also seek to undertake selective lending for high-technology and innovation projects.

It should be recalled that since joining ADB in 1999, Azerbaijan has received about $4.2 billion in sovereign and nonsovereign loans, guarantees, and technical assistance for transport, energy, public sector management, water supply and sanitation, finance, agriculture and natural resources, and health projects and programs.