The Asian Development Bank to allocate $ 752 million to Azerbaijan until 2019

The new Country Partnership Strategy of the Asian Development Bank (ADB) with Azerbaijan for 2014-2018 has been approved.

As they say in today's report the Board of Directors of the international financial structure, the bank for 4 years is going to highlight the country's government loans in the amount of $ 752 million. Projects in the areas of transport, energy and urban services. "The document is aimed at the diversification of Azerbaijan's economy, creating new economic opportunities, maintaining growth and reducing the imbalance between urban and rural areas,” the document says.

The new strategy is aligned with the government's plans for the development of corresponding strategic priorities of the ADB. As previously reported, under the new strategy, ADB plans to continue funding the private sector, in particular lending to local banks and funding for the development of trade.

Azerbaijan is a member of ADB since 1999. During this time, the implementation of 20 local projects was allocated a total of $ 1 billion 637,400,000, of which was used $ 697.5 million. Almost half (46.26%) of ADB loans invested in transport and ICT, one-third (33.9% ) - the improvement of water supply, municipal infrastructure and services, 11.42% - in the energy sector, 7.08% - in the financial sector, 1.34% - in agriculture and natural resources. --17D-

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