News

ADB and AIIB Signed an MOU with Azerbaijan, Kazakhstan, and Uzbekistan to Support the Feasibility Study of the Caspian Green Energy Corridor

BAKU, AZERBAIJAN (4 April 2025) — The Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan today signed a Memorandum of Understanding (MOU) to support the Feasibility Study for the Caspian Green Energy Corridor Project. The initiative is part of ADB’s regional technical assistance for the project. The MOU establishes […]

CAREC Launches University Innovation Exchange Program to Drive Regional Collaboration and Innovation

The Central Asia Regional Economic Cooperation (CAREC) is excited to announce the launch of the CAREC University Innovation Exchange Program (UIEP). This program aims to foster collaboration and drive entrepreneurship among universities in the CAREC region. The UIEP opening ceremony took place on July 17 in Almaty, marking an important step towards promoting innovation and […]

ADB President, President of Azerbaijan discuss combating COVID-19 and enhancing partnership

The two leaders discussed possible options for ADB’s support to Azerbaijan and whether additional policy measures may be required to further mitigate the socioeconomic risks of the pandemic and stimulate the financial and private sectors to enable the country’s economy to more quickly return to sustainable growth.

EBRD pledges urgent financing for Azerbaijani companies

The EBRD has made available an emergency “solidarity package” of €1 billion for its existing clients across 38 economies, including clients in Azerbaijan.

Azerbaijan joins EBRD donor community

A $2 million grant contribution from the Ministry of the Economy of Azerbaijan will support European Bank for Reconstruction and Development (EBRD) projects in a wide range of sectors to help diversify the country’s economy, promote the development of private businesses outside the oil sector, enhance innovation and boost exports.

EBRD and EU support new tool to boost agricultural lending in Azerbaijan

Banks in Azerbaijan are expected to increase their capacity to lend to local farmers and agricultural firms thanks to a new, innovative tool to evaluate loans in the sector.

ADB’s new 5-year country strategy promotes diversified and inclusive growth in Azerbaijan

ADB’s new Country Partnership Strategy, operational from 2019–2023, will focus on three strategic priorities to support Azerbaijan: boosting private sector development, raising public sector efficiency, as well as improving infrastructure and strengthening human capital.

EBRD approves new strategy for Azerbaijan

The European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Azerbaijan which will guide EBRD’s investments and policy work in the country for the next five years.

ADB President reaffirms support to CAREC at 17th Ministerial Conference

Asian Development Bank President Takehiko Nakao reaffirmed ADB’s support for CAREC and announced $2 billion in new assistance for regional projects in CAREC countries in 2018.

Experts discuss bridging funding gap for Asia’s $8.4 trillion transport needs

Meeting Asia and the Pacific’s transport needs will require $8.4 trillion in financing by 2030, said Asian Development Bank (ADB) President Takehiko Nakao.