Azerbaijan tops UMICs in effective use of ADB resources

Azerbaijan has shown the highest result among upper-middle-income countries in the effective use of Asian Development Bank (ADB) resources, demonstrating a strong concentration of financing in projects related to regional integration, private sector development, the climate agenda and digital transformation.

Report informs, citing ADB, that Azerbaijan received $2.529 billion in sovereign financing for 10 projects in 2015-2024.

More than half of this amount (51%) was directed toward the development of regional cooperation and integration, one of the highest indicators among upper-middle-income countries. Another 39% of the funds was allocated to private sector support, 18% to climate financing and 10% to projects in the field of digital technologies.

The report noted that ADB's operations in Azerbaijan's private sector became increasingly focused on achieving economic development goals. During the period, the bank approved nine non-sovereign projects worth a total of $963.9 million, with all financing directed toward private sector support.

At the same time, 78% of non-sovereign commitments were related to regional cooperation and integration projects. According to ADB, this was the highest indicator among comparable upper-middle-income countries.