ADB launches new economic project in Azerbaijan

Finance Materials 12 January 2021 05:01 (UTC +04:00)
ADB launches new economic project in Azerbaijan

BAKU, Azerbaijan, Jan. 12

By Fidan Babayeva - Trend:

The implementation of the Asian Development Bank (ADB) project on technical support for raising knowledge for the more effective economic policy will be started in Azerbaijan, Trend reports with reference to the ADB.

"The project envisages the development of public administration and institutional capacity. Additional knowledge and technical support will strengthen the work on building evidence-based economic policies in Azerbaijan," said the ADB.

"The project cost is $380,000 and will be financed from a special technical support fund of the ADB. The project will run until the end of 2022," said the Asian bank.

As reported, the project is being implemented within the cooperation strategy of the ADB with Azerbaijan for 2009-2022 and is considered as a key element to improve the information work of the bank in Azerbaijan.

"Azerbaijan also began to act as a donor. So, in 2019, Azerbaijan announced the allocation of funds worth $5 million to the International Development Association, $2 million to the Asian Development Fund and the European Bank for Reconstruction and Development EBRD). Also in March 2020, Azerbaijan decided to allocate $5 million to the World Health Organization (WHO)," the bank noted.


Follow the author on Twitter: @Fidan_Babaeva