BAKU, Azerbaijan, April 24. According to the Asian Development Bank’s (ADB) 2024 annual report, the volume of outstanding borrowing in Azerbaijani manats reached $22 million, nearly twice the amount recorded in 2023 ($13 million), Trend reports citing the Bank.
The data indicates a growing role of Azerbaijan’s national currency in ADB’s borrowing structure.
At the same time, the net currency obligation in manats for 2024 also amounted to $22 million, reflecting a full match between the volume of borrowing and actual currency obligations.
The Asian Development Bank (ADB) and Azerbaijan maintain a strong partnership focused on advancing the private sector, accelerating green energy initiatives, enhancing public sector efficiency, improving infrastructure, and developing human capital.
For the period 2024–2026, ADB’s support to Azerbaijan will concentrate on five key areas: energy, transport, public sector management, agriculture, and education. The bank will assist the government in strengthening regional cooperation through the development of integrated transportation networks. ADB’s support for the rehabilitation of regional irrigation systems is expected to boost agricultural productivity and contribute to long-term food security.
To reinforce human capital, ADB will invest in the advancement of technical and vocational education by supporting the construction and modernization of vocational schools and encouraging policy reforms in the sector. The bank will also engage the private sector in projects related to energy, trade, finance, infrastructure development, and the expansion of small and medium-sized enterprises. In collaboration with the government, ADB is working to expand access to local currency financing for the private sector.
