ADB's Country Partnership Strategy for Azerbaijan discussed

Azerbaijani Finance Minister Sahil Babayev received a delegation led by Executive Director Rachel Thompson, who represents Azerbaijan on the Board of Directors of the Asian Development Bank (ADB), Report informs, referring to the ministry.

During the meeting, the parties expressed satisfaction with the cooperation between Azerbaijan and ADB. They highlighted that this cooperation has made significant contributions to the socio-economic development of Azerbaijan through loans, grants, and technical assistance.

Issues related to ADB's Country Partnership Strategy for Azerbaijan for 2025-2029 were underscored. It was stated that the strategy covers comprehensive measures aimed at diversifying the country's economy, strengthening sustainability, and ensuring inclusive growth.

Minister Babayev emphasized that Azerbaijan's economy demonstrates sustainable development and macroeconomic stability, noting that economic diversification is being successfully carried out in the fields of agriculture, information and communication technologies, industrial production, logistics, and green energy.

He also mentioned the ADB's support for financing a number of projects within the framework of the "State Program for Improving Water Supply, Wastewater Management and Rainwater Drainage Systems of Baku City and the Absheron Peninsula for 2025–2034", besides supporting the expansion of the Baku Metro lines and the modernization of the country's railway infrastructure.

Thompson, in turn, stressed the high level of cooperation between Azerbaijan and ADB and expressed confidence that this partnership will be further deepened in the coming period.