Azernews.Az

By Ayya Lmahamad

Azerbaijan and the Asian Development Bank have discussed existing relations and cooperation prospects, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Economy Minister Mikayil Jabbarov with Asian Development Bank Vice President Shixin Chen.

“We have held a valuable and productive meeting with Vice-President of the Asian Development Bank (@ADB_HQ) Shixin Chen. The existing relations with the Bank, cooperation prospects, as well as the Country Partnership Strategy for Azerbaijan to be prepared in 2023 have been discussed comprehensively," Mikayil Jabbarov tweeted.

The minister stressed that Azerbaijan attaches great importance to cooperation with international financial and economic institutions, including the ADB.

He highlighted that the bank’s financial and technical support provided to Azerbaijan is highly appreciated. In this regard, he mentioned that ADB supports Azerbaijan through regional projects in energy, health, education, digital development and risk management.

Mikayil Jabbarov added that the Country Partnership Strategy for Azerbaijan, to be prepared in 2023, will be important for the country in terms of expanding cooperation in potential areas.

For his turn, Shixin Chen expressed the bank’s interest in expanding relations with Azerbaijan and emphasized that the implementation of joint initiatives and projects will be conducive to the rapid development of the country.

Azerbaijan has been a member of the Asian Development Bank since 1999. Since then, the bank has committed $4.4 billion in loans, and $32.28 million in technical assistance projects, including ADB-administered co-financing for Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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