Azerbaijan Secures $5.6 Billion in Asian Development Bank Financing

Sahil Babayev, the Finance Minister of Azerbaijan, met with a delegation from the Asian Development Bank Board of Directors on September 14 to review the nation's progress and future cooperation. Azerbaijan has secured $5.6 billion in financing from the bank to fund 160 projects since joining the institution.

The discussions centered on the Country Partnership Strategy for 2025–2029. This strategy prioritizes diversifying the Azerbaijani economy by strengthening the private sector and expanding non-sovereign operations to attract more private capital.

Both parties committed to continued cooperation through the Central Asia Regional Economic Cooperation Program, with a specific focus on trade, energy, and transport. Current active initiatives include the Azerbaijan Railways Digital Transformation Project alongside new developments in the energy and water sectors.