Baku: Masato Kanda, President of the Asian Development Bank (ADB), met with Azerbaijani President Ilham Aliyev to discuss ADB’s strategic support for Azerbaijan’s development priorities and cooperation in transforming the country into a transport, trade, and energy hub connecting Central Asia and Europe.

According to Azeri-Press news agency, the ADB president announced that under the new Country Partnership Strategy (2025-2029), the bank plans to invest up to 2.5 billion USD to support Azerbaijan’s development goals. He highlighted ADB’s ongoing projects with the government and the private sector in areas such as smart mobility infrastructure, renewable energy, digitalization, and human capital development.

The report further indicates that ADB is committed to establishing green and efficient infrastructure to diversify Azerbaijan’s export portfolio and expand access to new markets. Initiatives like the CAREC 2nd Corridor (Middle Corridor) and the Trans-Caspian Green Corridor are set to enhance regional connectivity, facilitate trade, and enable the transport of renewable energy resources from Central Asia to Europe. Additionally, digital trade within the region is expected to grow.

During his visit, Masato Kanda also engaged in discussions with Prime Minister Ali Asadov, Finance Minister Sahil Babayev, Economy Minister Mikayil Jabbarov, and Minister of Digital Development and Transport Rashad Nabiyev about prospects for expanding cooperation.

The ADB president visited a new metro station site as part of the Baku Metro expansion project and toured a modern warehouse complex financed by ADB, which contributes to improving access to and safety of food supplies. Kanda also interacted with small farmers learning sustainable agricultural practices.

It was noted that since 1999, ADB has provided 5.5 billion USD in financing and technical assistance to Azerbaijan across various sectors, including transport, energy, agriculture, healthcare, trade, and disaster risk reduction.