Masato Kanda: ADB supports green energy exports from Central Asia to Europe via Azerbaijan – EXCLUSIVE

The Asian Development Bank (ADB) has identified as its mission facilitating the export of renewable energy from Central Asian countries through Azerbaijan to the European market, ADB President Masato Kanda said in an interview with Report on the sidelines of the 59th Annual Meeting of the bank's Board of Governors, held in Samarkand.

According to Report, ADB earlier announced plans to invest up to $2.5 billion in Azerbaijan under its partnership strategy.

Asked about the bank's priority areas - whether the Middle Corridor, the energy sector, or support for private business - the ADB chief stressed that all of these areas are of primary importance.

"Everything is closely interconnected. For example, the Middle Corridor development project certainly begins with transport and road infrastructure, but it also includes elements of digital connectivity and energy integration, including renewable energy sources. And we have a mission to export green energy from here (Uzbekistan, Central Asia - ed.) through Azerbaijan, including to the European continent," Kanda noted.

In addition, ADB intends to invest more than $10 billion by 2030 in strengthening regional connectivity, developing clean energy, digital transformation, and creating inclusive infrastructure across the South Caucasus and Central Asia.

Azerbaijan has been a member of ADB since 1999. During this period, the bank has invested more than $5 billion in the country's economy, financing 145 projects. Of this amount, around $4 billion was directed to the public sector and $1 billion to the private sector.

The largest areas of financing have been transport ($1.5 billion) and energy ($1.7 billion).

ADB was founded in 1966 and is headquartered in Manila. The bank has 69 shareholder countries, 50 of which represent the Asia-Pacific region.