On September 14, Minister of Finance, ADB Governor for Azerbaijan Sahil Babayev met with a visiting delegation of the Board of Directors of the Asian Development Bank (ADB).

The Ministry of Finance told Operativ Media that the meeting focused on the current state and development prospects of the partnership between Azerbaijan and the ADB, joint projects, support for private sector development, public-private partnerships, as well as regional cooperation.

Minister Sahil Babayev emphasized that Azerbaijan attaches great importance to cooperation with the ADB as a long-term and reliable partner. It was noted that the projects financed by the bank in Azerbaijan, along with the technical and financial support provided, play an important role in implementing the country's development priorities. Since Azerbaijan became a member of the ADB, a total of $5.6 billion in financing has been provided for 160 projects within the framework of cooperation with the bank.

It was noted that strengthening the role of the private sector in diversifying the economy and ensuring sustainable economic growth is a key priority under the Country Partnership Strategy for 2025-2029. In this regard, the sides emphasized the particular importance of expanding the ADB's non-sovereign operations and increasing opportunities to attract private investment and capital to the country's economy.

In turn, the members of the ADB Board of Directors noted the importance of the long-term and fruitful partnership between Azerbaijan and the Bank. They particularly emphasized the importance of continuing cooperation with Azerbaijan within the CAREC Program and expanding joint initiatives in the fields of transport, energy, and trade.

During the meeting, the sides also discussed the ongoing Azerbaijan Railways Digital Transformation Project, as well as new projects being prepared jointly with the ADB in the energy, transport, and water sectors.