Baku, Azerbaijan, Oct. 27
By Taleh Mursagulov - Trend:
The Asian Development Bank (ADB) is discussing two test power sector projects and one project for the student accommodation in Baku with the Azerbaijani government, the ADB Vice President Wencai Zhang said in an interview with Trend and Azernews.
He did not disclose the details of the projects, however, he noted that they are designed to facilitate the roll-out of PPP (public-private partnership) projects across the country. Wencai Zhang said the Small and Medium Enterprises Development Agency (SMEDA) and ADB are working together to promote PPPs in the country.
“In the finance sector, the government and ADB focus on easing access to funds for businesses. This is a key to growing the private sector and generating jobs, especially for SMEs,” he said.
In addition, Wenchai Zhang noted the importance of developing domestic capital markets as an alternative source of funding the private sector’s investment needs.
"ADB’s local currency bonds could serve this purpose. ADB held the first round of dialog on this matter in September 2018. We hope the government will provide the necessary approvals and confirmations to launch the first-ever issuance of ADB bonds in manat. If successful, these ADB manat bonds will have longer tenors," he said.
Wencai Zhang added that the ADB will also discuss with the government on how ADB can support the urban and rural infrastructure and human capital development.
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 on Dec. 22, 1999 and its share in the bank is 0.5 percent.