BAKU, Azerbaijan, September 19. The Asian Development Bank (ADB) will focus on energy, transportation, public sector management, agriculture, and education in Azerbaijan for 2023–2026, Trend reports.
According to the bank, it will support the Azerbaijani government in boosting regional cooperation through well-integrated regional transport systems.
According to the bank, the rebuilding of the regional irrigation network with ADB's contribution will increase agricultural productivity and help sustain food security in Azerbaijan.
ADB will also support energy sector reforms by developing the core transmission and distribution infrastructure and implementing innovative initiatives in the sector.
Investing in the development of technical vocational education will strengthen human capital in the country, improve and build modern vocational schools, and promote educational policy reforms.
ADB will engage the private sector for projects related to trade, finance, small and medium-sized enterprise expansion, and infrastructure development.
The bank added that it closely cooperates with the government to make local currency financing available to the private sector through local currency bonds.
So far, the ADB has allocated 67 loans, grants, and technical assistance to Azerbaijan for the public sector, totaling $3.7 billion. The total payments to Azerbaijan on loans amount to $3.96 billion.
