[ad_1]
Details added (first version published at 16:12)
Baku, Azerbaijan, October 24
By Taleh Mursagulov – Trend:
The Asian Development Bank (ADB) will continue to support the development of Azerbaijan's economy, said AfDB Vice President Wencai Zhang at a press conference in Baku on October 24th.
This is also reflected in the new five-year strategy, whose adoption is expected to be reviewed in the first half of 2019, he said.
At the same time, he said that the AfDB intends to implement the goal of supporting Azerbaijan's development as part of the country's public debt management strategy.
He added that the ADB intends to support private sector development in Azerbaijan by issuing manat bonds.
Speaking of the benefits of issuing mana bonds, Zhang said this was done to prevent the private sector from facing the risk of exchange rate fluctuations.
The deputy chairman of the ADB also said that according to the bank's forecast on the economy of Azerbaijan, a 2% growth is expected in 2019. But, according to Zhang, the growth of the economy Azerbaijan could exceed this figure thanks to the reforms undertaken in the country.
The ADB approved the previous country strategy for Azerbaijan in 2014 and covers a period up to 2018. The priorities of the strategy are inclusive growth, poverty reduction, infrastructure development, environmental sustainability, job creation, social protection, education, private sector development and sustainable development. development of the country's potential.
The transportation, energy and water sectors are priority funding areas.
The ADB was founded in 1966 and has 67 member states. The bank's headquarters are located in Manila, Philippines.
Azerbaijan became a member of the AfDB on 22 December 1999 and its share in the bank is 0.5%.
Since 2003, the bank has allocated more than $ 4 billion worth of loans to Azerbaijan for more than 30 projects in the public and private sectors. The amount of technical assistance provided by the bank to Azerbaijan amounts to nearly $ 30 million.
Follow Trend on Telegram. Only the most interesting and important news
[ad_2]
Source link
