BAKU, Azerbaijan, June 9. Asian Development Bank (ADB) supports Azerbaijan's efforts in promoting the Middle Corridor project, said ADB Vice-President for South, Central, and West Asia Yingming Yang, Trend reports.
He made the remark as he met the Azerbaijani Government officials during his visit to Baku.
"Azerbaijan plays a key role in regional connectivity and trade and is an important bridge between Asia and Europe. ADB welcomes the country’s active participation in the Central Asia Regional Economic Cooperation Program (CAREC) program and supports Azerbaijan’s efforts in promoting the Middle Corridor and the Caspian Green Energy Corridor. In recent years, ADB has also actively invested in the development of the country’s landmark solar power plants through our private sector investments," Yingming Yang said.
During the meetings, the VP discussed Azerbaijan’s growth prospects, highlighting financial sector and capital market development, stronger private sector engagement, regional cooperation, and digital transformation. He also emphasized the importance of key energy, transport, water, and agriculture projects to diversify the economy and reduce reliance on hydrocarbons.
Since joining ADB in 1999, Azerbaijan has received $4.4 billion in support through 145 public and private sector operations, covering transport, energy, public sector management, healthcare, agriculture, and trade finance.