BAKU, Azerbaijan, June 2. Azerbaijan’s Minister of Finance, Sahil Babayev, met with a delegation led by Yingming Yang, Vice-President for South, Central, and West Asia of the Asian Development Bank (ADB), Trend reports via the country's ministry.
The meeting highlighted the long-term cooperation between Azerbaijan and ADB and the bank’s ongoing support for the country’s development goals. The role of ADB’s office in Baku was also acknowledged for effectively coordinating cooperation and identifying national priorities.
The parties exchanged views on the draft of ADB’s new Country Partnership Strategy for 2025–2029 and discussed future areas of collaboration in the meeting. Key topics included the development of transport infrastructure in Baku and surrounding areas, expansion of the Baku Metro, improvements in drinking water supply, reduction of water losses, wastewater management, cooperation in renewable energy sectors, and the modernization of logistics and transport infrastructure along the North-South and Middle transport corridors.
Vice-President Yang praised Azerbaijan’s support for the Asian Development Fund (ADF), a financial arm of ADB that primarily assists low-income member countries with poverty reduction and life quality improvements.
Minister Babayev briefed the guest on measures taken to ensure sustainability in public debt management and economic stability in line with the “Medium- and Long-Term Strategy for Public Debt Management.” He also shared information about recent presidential decrees, including the “Socio-Economic Development Strategy of Azerbaijan for 2027–2030” and the “Second State Program for the Great Return to Liberated Territories.”
The official emphasized that ADB could play a significant role in employment development in the liberated areas.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
