ADB may allocate $295M to Azerbaijan
Baku, Azerbaijan, July 30
By Sara Israfilbayova – Trend:
The Asian Development Bank (ADB) will allocate loans worth $295 million to Azerbaijan in 2020-2022, Trend reports with reference to a three-year business plan on Azerbaijan.
In accordance with the plan, ADB will mainly lend to projects on ensuring macroeconomic sustainability and improving the efficiency of public administration, improving infrastructure, supporting small and medium-sized enterprises (SMEs), and developing non-bank credit institutions.
During the reporting period, ADB will also provide technical assistance to Azerbaijan in the amount of $5.8 million.
In addition, in 2022, the bank may provide Azerbaijan with credit resources worth $450 million for four projects in the fields of energy, education, infrastructure improvement and increasing the efficiency of public administration.
Azerbaijan became an ADB member on December 22, 1999, and its share in the bank is 0.5 percent.
ADB was founded in 1966 and has 67 member states, including 48 regional and 19 non-regional countries. The bank’s headquarters is located in Manila, Philippines.
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