BAKU, Azerbaijan, September 15. Representatives
of Azerbaijan and the Asian Development Bank (ADB) held a meeting
to discuss cooperation in the transportation sector.


This was announced by Rashad Nabiyev, Azerbaijan’s Minister of
Digital Development and Transportation, on his “X” account.


“We held a meeting with members of the Board of Directors of the
Asian Development Bank.


At the meeting, we discussed the current state and prospects for
cooperation between Azerbaijan and the Asian Development Bank, as
well as opportunities to expand cooperation toward the
modernization, digitalization, and decarbonization of railway,
metro, and transportation infrastructure in general.


We also exchanged views on potential financing opportunities in
air and maritime transport, as well as in the aerospace industry,”
the post reads.







According to the Azerbaijani Ministry of Finance, since
Azerbaijan joined the Asian Development Bank (ADB), a total of $5.6
billion has been allocated to finance 160 projects as part of the
country’s cooperation with the bank. The partnership between
Azerbaijan and the ADB covers the areas of transportation, energy,
water supply, and private sector development. In recent years, the
main priorities have been strengthening regional transport
connectivity, developing the Middle Corridor, and promoting clean
energy.


The ADB plans to further deepen integration in the
transportation, trade, and energy sectors along the Middle
Corridor. In particular, the bank is working on a strategy to
transform the CAREC 2 corridor, which corresponds to the Middle
Corridor, into an integrated economic corridor aimed at modernizing
border crossings, digitizing trade, and developing logistics
infrastructure.


The Asian Development Bank (ADB), in collaboration with the
Asian Infrastructure Investment Bank (AIIB), is supporting the
development of a feasibility study for the “Green Energy Corridor”
project, which calls for the transmission of clean electricity from
Central Asia to Azerbaijan, and then to Europe via an undersea
power cable beneath the Caspian Sea.