Azerbaijan has ranked among the most efficient upper-middle-income countries in terms of resource utilization under the Asian Development Bank (ADB), with a strong focus on financing projects in regional integration, private sector development, climate initiatives, and digital transformation.
According to an ADB report, Azerbaijan received $2.529 billion in sovereign financing across 10 projects between 2015 and 2024, Caliber.Az reports per local media.
More than half of this amount—51%—was allocated to regional cooperation and integration, placing Azerbaijan among the highest performers in this category compared to other upper-middle-income countries. Another 39% was directed toward private sector development, while 18% went to climate-related financing and 10% to digital technology initiatives.
The report further notes that ADB operations in Azerbaijan’s private sector were even more concentrated on economic development objectives. During the period under review, the bank approved nine non-sovereign projects totaling $963.9 million, with the entire sum directed toward private sector support.
It adds that 78% of non-sovereign commitments were linked to regional cooperation and integration projects. According to the ADB, this represents the highest share among comparable upper-middle-income economies.
By Vafa Guliyeva
