Baku: Azerbaijan’s Minister of Finance, Sahil Babayev, held a meeting with a delegation led by Rachel Thompson, Executive Director on the Board of the Asian Development Bank (ADB), to discuss the expansion of cooperation between Azerbaijan and the ADB. The Ministry of Finance informed APA-Economics about the meeting, which emphasized the strong partnership between the two entities and ADB’s significant contributions to Azerbaijan’s socio-economic development through loans, grants, and technical assistance.

According to Azeri-Press News Agency, the discussions also centered on the ADB’s Country Partnership Strategy (CPS) for Azerbaijan for the years 2025-2029. This strategy is focused on diversifying Azerbaijan’s economy, strengthening resilience, and ensuring inclusive growth. Minister Sahil Babayev highlighted Azerbaijan’s ongoing economic growth and successful diversification into sectors such as agriculture, ICT, industrial production, logistics, and green energy.

The minister also pointed out ADB’s role in financing various projects in line with the “State Program on Improving Water Supply, Wastewater Management and Stormwater Drainage Systems in Baku City and the Absheron Peninsula for 2025-2034.” Key projects include the expansion of Baku Metro lines and the modernization of the country’s railway infrastructure.

Rachel Thompson, acknowledging the high-level cooperation between Azerbaijan and the ADB, expressed optimism that the partnership would continue to strengthen in the future.