EFSD shares volume of sovereign financing in Azerbaijan

Finance Materials 27 February 2023 09:15 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 27. International financial organizations and development agencies have carried out 227 sovereign financing operations with a total cost of $6.2 billion in Azerbaijan from 2008 through 2022, Trend reports via the Eurasian Fund for Stabilization and Development (EFSD).

A larger number of the financing operations accounted for technical assistance (180), followed by investment loans (44), stabilization loans (2), and grants (1).

The largest share of financing in monetary terms was granted in the form of investment loans ($5.5 billion) and stabilization loans ($0.6 billion).

The largest amount of funding was received as part of 33 operations implemented by the Asian Development Bank in the amount of $2.7 billion.

The World Bank which has carried out 55 operations worth $2 billion ranks second.

International Monetary Fund has implemented 70 technical assistance operations, and USAID is the leader among development agencies - with 53 technical assistance projects.

According to the EFSD, the largest number of operations in Azerbaijan was implemented in 2021.

The EFSD sovereign financing database covers 11 countries of the Eurasian region and includes information of operations financed by 10 international financial organizations: the International Monetary Fund (IMF), the World Bank (WB), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the New Development Bank (NDB), the Islamic Development Bank (IDB), the Eurasian Development Bank (EDB), and the Eurasian Fund for Stabilization and Development (EFSD).