New ADB strategy to promote inclusive development in Azerbaijan(Exclusive)

Business Materials 13 March 2018 12:36 (UTC +04:00)

Baku, Azerbaijan, March 13

By Ilkin Shafiyev – Trend:

The new partnership strategy of the Asian Development Bank (ADB) with Azerbaijan will promote inclusive development in the country, Head of the ADB Azerbaijan Office Nariman Mannapbekov said in an interview with Trend and Azernews.

The strategy will be designed for 2019-2023. It is planned to be coordinated fully with strategic road maps that are being implemented in Azerbaijan. The previous five-year partnership strategy between ADB and Azerbaijan was approved in 2014.

“This year we are completing the program, implemented since 2014. It covers the spheres of transport, energy and water supply, urban infrastructure and services. According to preliminary estimates, we can say that we have done a great job, nevertheless, we still have something to strive for. The volume of our credit and other operations has grown. We began to cooperate in new areas, such as the railway sector, electricity distribution and education,” Mannapbekov added.

ADB was founded in 1966 and 67 states are its members. The bank’s headquarters is located in Manila, Philippines.

Azerbaijan became an ADB member in 1999. The country's share in the bank's capital is 0.5 percent.