Azerbaijan's share in ADB's portfolio in Central and West Asia region is 1%

As of March 31, the Asian Development Bank's (ADB) total loan and grant portfolio in Central and West Asia reached $22.1 billion, Leah Gutierrez, Director General of the Asian Development Bank's (ADB) Central and West Asia Department, said during a press conference on ADB activities in the region, which was held during the 59th Annual Meeting of the ADB Board of Governors, Report informs.

According to her, Azerbaijan accounts for $0.3 billion, or 1% of the total portfolio. "We are conducting very large-scale work in Central and West Asia. The transport sector remains our largest focus ($7 billion, or 32% – ed.). This demonstrates the high interest of our participants in strengthening regional connectivity, both at the interregional level and in connecting rural areas with urban centers," noted Gutierrez.

She emphasized that the Central and West Asia Department submits projects to the Board of Directors only when it is fully confident they are ready for implementation. "We strive to ensure projects are shovel-ready, as any delays delay the delivery of benefits to the public. This is why we prioritize the quality of project development. Projects are included or removed from the plan depending on their level of readiness. At the same time, the implementation of individual projects is accelerated if their preparation is more advanced," the department's general director added.