10:53 - 24.04.2025

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April 24, Fineko/abc.az. The Asian Development Bank (ADB) allocated USD 626 million to Azerbaijan last year, Apa reports citing ADB.

USD 223.3 million of this amount consisted of directly allocated loans. Of these loans, USD 131.5 million were sovereign loans. This loan was allocated for a railway development project in Azerbaijan.

The volume of non-sovereign loans without state guarantees amounted to a total of USD 91.6 million last year. Last year, ADB allocated USD 10 million for the expansion of the Veyseloglu Modern Retail Network, USD 48.1 million for the Bilasuvar Solar Power Plant, and USD 33.5 million for the Neftchala Solar Power Plant. The bank also allocated USD 0.2 million to the Trade and Supply Chain Finance Program.

The volume of funds allocated by ADB under co-financing amounted to USD 399.1 million. Of this, USD 398.3 million were for projects, and USD 0.8 million were related to a technical advisory program.

Note that Azerbaijan became a member of the bank in 1999. Since 2004, ADB has had a representative office operating in Azerbaijan. The 48th Annual Meeting of the Bank's Board of Governors was held in Baku in 2015. ADB supports Azerbaijan in efforts toward economic diversification, expanding new economic opportunities, and promoting inclusive development. Since 1999, ADB has allocated USD 5.27 billion for over 130 loans, grants, investments, technical assistance projects, trade and supply chain finance, and microfinance programs in areas such as transport, water supply, energy, the financial sector (banking and insurance), education, healthcare, and others.