BAKU, Azerbaijan, September 15. Representatives of Azerbaijan and the Asian Development Bank (ADB) held a meeting to discuss cooperation in the transportation sector.
This was announced by Rashad Nabiyev, Azerbaijan’s Minister of Digital Development and Transportation, on his “X” account.
“We held a meeting with members of the Board of Directors of the Asian Development Bank.
At the meeting, we discussed the current state and prospects for cooperation between Azerbaijan and the Asian Development Bank, as well as opportunities to expand cooperation toward the modernization, digitalization, and decarbonization of railway, metro, and transportation infrastructure in general.
We also exchanged views on potential financing opportunities in air and maritime transport, as well as in the aerospace industry,” the post reads.
According to the Azerbaijani Ministry of Finance, since Azerbaijan joined the Asian Development Bank (ADB), a total of $5.6 billion has been allocated to finance 160 projects as part of the country’s cooperation with the bank. The partnership between Azerbaijan and the ADB covers the areas of transportation, energy, water supply, and private sector development. In recent years, the main priorities have been strengthening regional transport connectivity, developing the Middle Corridor, and promoting clean energy.
The ADB plans to further deepen integration in the transportation, trade, and energy sectors along the Middle Corridor. In particular, the bank is working on a strategy to transform the CAREC 2 corridor, which corresponds to the Middle Corridor, into an integrated economic corridor aimed at modernizing border crossings, digitizing trade, and developing logistics infrastructure.
The Asian Development Bank (ADB), in collaboration with the Asian Infrastructure Investment Bank (AIIB), is supporting the development of a feasibility study for the “Green Energy Corridor” project, which calls for the transmission of clean electricity from Central Asia to Azerbaijan, and then to Europe via an undersea power cable beneath the Caspian Sea.
