BAKU, Azerbaijan, April 26. Asian Development Bank (ADB) has provided a sovereign loan in the amount of $250 million to Azerbaijan under COVID-19 Active Response and Expenditure Support Program in 2021, Trend reports via ADB’s Annual Report.
According to the report, under its COVID-19 Pandemic Response Option, ADB provided Azerbaijan with a loan aimed at strengthening COVID-19 response mechanisms and health services, expanding social protection for poor people and vulnerable households, and preventing job losses caused by the economic downturn.
Among the non-sovereign operations is another loan in the amount of $5.9 million provided to Azerbaijan's Avrora LLC within the COVID-19 Staple Food Supply Chain Support initiative.
Meanwhile, according to ADB’s recent report on macroeconomic indices, Azerbaijan has recorded improvements in 2021 compared to 2020. The state budget deficit of Azerbaijan in 2021 has decreased by more than half from 2.3 percent GDP in 2020 to 1.1 percent GDP, while the budget tax revenues of Azerbaijan in 2021 increased by 15.5 percent, and the expenditure share of the GDP of Azerbaijan in nominal terms increased by 3.7 percent compared to 2020.
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