BAKU, Azerbaijan, April 24. As of December 31, 2024, Azerbaijan holds 47,208 shares in the capital stock of the Asian Development Bank (ADB), accounting for 0.444% of the total, Trend reports via the Bank.
The total nominal value of these shares amounts to $615.7 million, of which $584.8 million is callable capital and $30.9 million is paid-in capital.
As a result, Azerbaijan holds 85,755 votes in the Bank’s governance structure, representing 0.645% of the total voting power.
The ADB–Azerbaijan partnership supports the private sector, realizes green energy initiatives, raises public sector efficiency, improves infrastructure, and strengthens human capital.
ADB’s support to Azerbaijan will focus on energy, transport, public sector management, agriculture, and education for 2024–2026. The bank will support the government in boosting regional cooperation through well-integrated regional transportation systems. The rebuilding of the regional irrigation network with ADB’s contribution will increase productivity in agriculture and help sustain food security. Investing in the development of technical vocational education will strengthen human capital in the country. ADB will also help improve and build modern vocational schools and promote policy reforms. It will engage the private sector for projects related to energy, trade, finance, small and medium-sized enterprises expansion, and infrastructure development. ADB closely cooperates with the government to make local currency financing available to the private sector.
ADB will support climate-resilient private sector development by (i) helping the government to improve the business-enabling environment, including the legal and operational environment for public–private partnerships; (ii) helping the government to conduct state-owned enterprise reforms; (iii) developing human resources; and (iv) supporting climate change mitigation and adaptation investments. In November 2024, the 2024 UN Climate Change Conference (COP 29) will convene in Baku, Azerbaijan. ADB is planning to achieve better financial inclusion and access to finance by strengthening capital markets, introducing innovative financial tools and investing in education and skills to support a productive workforce.
