BAKU, Azerbaijan, May 4. Azerbaijan will continue working with the Asian Development Bank (ADB) to achieve tangible results in implementation of the climate agenda, Azerbaijan’s Finance Minister Sahil Babayev said in his statement for ADB Annual Meeting in Samarkand, Uzbekistan, Trend reports.
“Azerbaijan remains firmly committed to the global climate agenda. Hosting the 29th Conference of the Parties in Baku in 2024 marked a significant milestone for our country and the wider region. The conference delivered important outcomes in advancing climate finance, strengthening adaptation measures, and accelerating the global energy transition. Azerbaijan will continue to build on this momentum, working closely with international partners, including ADB, to translate these commitments into tangible results,” he said.
Babayev also spoke about the increasing significance of the Middle Corridor amid the global turbulence.
“Recent global and regional developments highlighted the growing importance of the Middle Corridor initiative, in which Azerbaijan plays a vital role. The corridor’s strategic value as a reliable and efficient trade route has become increasingly evident. It provides an opportunity to diversify trade flows and mitigate vulnerabilities associated with global disruptions. Ongoing efforts to enhance infrastructure, streamline operations, and improve coordination will further reinforce its role for regional and intercontinental connectivity,” the minister added.
Babayev further said it is essential that ADB continues to enhance its responsiveness, flexibility, and innovation.
“Strengthening support for policy-based operations, expanding technical assistance, and ensuring competitive financing terms will be key to maintaining the bank’s strong value proposition. ADB’s comparative advantage lies not only in its financial resources but also in its knowledge, expertise, and ability to convene partnerships. We encourage the bank to further leverage these strengths in addressing increasingly complex and interconnected development challenges,” he said.
