Azerbaijan, ADB discuss private sector development and future cooperation

Azerbaijan and the Asian Development Bank (ADB) have exchanged views on enhancing existing cooperation, supporting private sector development, and exploring new partnership opportunities, Report informs, citing the Ministry of Finance.

During a meeting in Baku, Minister Sahil Babayev welcomed ADB Vice President Bhargav Dasgupta and his delegation, expressing appreciation for the long-term collaboration between Azerbaijan and the Bank. Babayev highlighted that ADB's support through loans, grants, and technical assistance has significantly contributed to the country's development agenda.

The minister also shared updates on Azerbaijan's current economic landscape and achievements in the non-oil sector. He emphasized key infrastructure priorities, including improvements to water supply and sewage systems in Baku and the Absheron Peninsula, financing needs of the Baku Metro, and railway modernization projects.

Dasgupta reaffirmed ADB's commitment to strengthening cooperation with Azerbaijan across all sectors, especially in private sector support. He expressed confidence that the partnership would continue under the bank's 2025–2029 Country Partnership Strategy based on long-term cooperation principles.