Masato Kanda: ADB to support Azerbaijan's transformation into regional hub between Central Asia, Europe

The Asian Development Bank (ADB) is committed to supporting Azerbaijan's transformation into a regional hub connecting Central Asia (CA) and Europe, ADB President Masato Kanda said following his visit to Azerbaijan, Report informs.

"ADB remains committed to supporting Azerbaijan's transformation into a regional hub linking Central Asia and Europe," Kanda said. "We are working alongside the government and the private sector to deliver substantial investments in smart mobility infrastructure, renewable energy, digitalization, and skills development."

Masato Kanda met with Azerbaijan President Ilham Aliyev on November 14 to discuss ADB's strategic support for the country's development priorities, aimed at transforming Azerbaijan into a regional hub for connectivity, trade, and energy linking Central Asia and Europe.

Kanda met with Prime Minister Ali Asadov to discuss potential new areas of collaboration that attract private investment, enhance innovation, and create more jobs. He also met with Minister of Finance Sahil Babayev, Minister of Economy Mikayil Jabbarov, and Minister of Digital Development and Transport Rashad Nabiyev to discuss ADB's ongoing and future support for Azerbaijan.

Kanda visited a metro station (Icherisheher) as part of the forthcoming Baku Metro Expansion Project and met with its senior management. He also toured an ADB-financed modern warehouse facility that has enhanced food accessibility, affordability, and safety across the country, and met with smallholder farmers who are learning resilient agricultural practices.

Azerbaijan has been a member of the ADB since 1999. During this time, the bank has invested approximately $5.6 billion in the country, including $4.4 billion in the public sector and $1.2 billion in the private sector. The largest investments were in transport ($1.5 billion) and energy ($1.7 billion).

The ADB was established in 1966 and is headquartered in Manila, Philippines. It brings together 69 member countries, 50 of which are from the Asia-Pacific region.