BAKU, Azerbaijan, July 2. ADB is considering an Urban Resilience financing project involving Azerbaijan.
The project titled Urban Resilience for Housing, Tourism, and Infrastructure Finance covers Azerbaijan, Armenia, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan and other countries.
The Asian Development Bank said that it is expected to be financed through the Technical Assistance Special Fund in the amount of $900,000.
Azerbaijan is among the leading upper middle-income countries in the Asian Development Bank’s portfolio, driven by regional integration financing and private-sector operations.
The latest report by ADB reveals that Azerbaijan received $2.53 billion in sovereign commitments across 10 projects between 2015 and 2024 from the Bank. Of this amount, 51 percent was directed toward regional cooperation and integration, one of the highest shares in the group. Another 39 percent supported private sector development, while 18 percent was allocated to climate financing and 10 percent to digital technology initiatives.
In terms of project numbers, Azerbaijan accounted for 10 sovereign projects during the review period. Half of these projects incorporated regional cooperation objectives, while 40 percent included climate adaptation or mitigation components and 20 percent supported digital technology.
ADB’s private sector operations in Azerbaijan were even more concentrated around economic development goals. Between 2015 and 2024, the bank approved nine nonsovereign projects worth $963.9 million, with 100 percent supporting private sector development. Notably, 78 percent of the commitment volume was linked to regional cooperation and integration, the highest ratio among comparable UMIC economies reviewed by ADB.
