BAKU, Azerbaijan, July 2. ADB is considering an
Urban Resilience financing project involving Azerbaijan.
The project titled Urban Resilience for Housing, Tourism, and
Infrastructure Finance covers Azerbaijan, Armenia, Georgia,
Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan
and other countries.
The Asian Development Bank said that it is expected to be
financed through the Technical Assistance Special Fund in the
amount of $900,000.
Azerbaijan is among the leading upper middle-income countries in
the Asian Development Bank’s portfolio, driven by regional
integration financing and private-sector operations.
The latest report by ADB reveals that Azerbaijan received $2.53
billion in sovereign commitments across 10 projects between 2015
and 2024 from the Bank. Of this amount, 51 percent was directed
toward regional cooperation and integration, one of the highest
shares in the group. Another 39 percent supported private sector
development, while 18 percent was allocated to climate financing
and 10 percent to digital technology initiatives.
In terms of project numbers, Azerbaijan accounted for 10
sovereign projects during the review period. Half of these projects
incorporated regional cooperation objectives, while 40 percent
included climate adaptation or mitigation components and 20 percent
supported digital technology.
ADB’s private sector operations in Azerbaijan were even more
concentrated around economic development goals. Between 2015 and
2024, the bank approved nine nonsovereign projects worth $963.9
million, with 100 percent supporting private sector development.
Notably, 78 percent of the commitment volume was linked to regional
cooperation and integration, the highest ratio among comparable
UMIC economies reviewed by ADB.
