ADB helped Azerbaijan when European banks refused to finance – I.Aliyev

On June 27, President of Azerbaijan Ilham Aliyev received the head of the Asian Development Bank (ADB) Masatsuga Asakawa. According to the website of the head of state, Aliyev expressed gratitude to the guest for the ADB's support for the development of sectors of the Azerbaijani economy that are important both for the country and for regional cooperation. The Head of State highly appreciated "the unequivocal support of the Asian Development Bank, in particular, during some financial delays on the part of European financial institutions for the transportation of Azerbaijani natural gas."

"European banks have not shown willingness to provide financing, although Azerbaijan provides gas to Europe, and the Asian Development Bank has done so," Aliyev said. According to him, with the establishment of strong economic ties between Azerbaijan and neighboring Caspian countries and other regions, it is important to identify new directions in order to continue fruitful cooperation with the ADB.

Asakawa expressed hope for the successful continuation of cooperation between ADB and Azerbaijan in the future in the implementation of strategic priorities facing Azerbaijan. During the conversation, the issues of production and export of green energy were touched upon.

In addition, issues of cooperation on the North-South railway project were touched upon, and an exchange of views took place on the further expansion of relations between the Central Asian states and Azerbaijan in the transport sector.