BAKU, Azerbaijan, March 11. The Asian Development Bank (ADB) has already started preparing the new Country Partnership Strategy (CPS) for Azerbaijan for 2024-2028, Candice McDeigan, ADB Country Director in Azerbaijan, told Trend.
"The current CPS will come to an end this year. The upcoming CPS will be aligned with ADB’s Strategy 2030 and Azerbaijan 2030: National Priorities of the Social Economic Development," she said.
According to McDeigan, ADB's special focus over the next five years will be on green economic transformation, regional cooperation and connectivity, domestic integration, sustainable finance, and private sector development.
"Transport, energy, and social sectors will remain among the core sectors for ADB’s assistance during that period. We are aiming for the new CPS to be approved in the first quarter of 2024 and we will continue to build on the fruitful partnership between ADB and all our partners in the country," she added.
To date, ADB has committed 65 public sector loans, grants, and technical assistance totaling $3.7 billion to Azerbaijan. Cumulative loan disbursements to Azerbaijan amount to $3.93 billion. These were financed by regular and concessional ordinary capital resources. ADB’s ongoing sovereign portfolio in Azerbaijan includes 2 loans and 1 sovereign guarantee worth $856.8 million.