Azerbaijan to act as a donor of Asian Development Fund


May 21, Fineko/abc.az. Today the Ministry of Finance of Azerbaijan and the Asian Development Bank (ADB) are holding the 2019 Asian Regional Public Debt Management Forum in Baku today.

Addressing to the forum, Finance Minister Samir Sharifov stated that ADB allocated both direct and syndicated loans guaranteed by ADB for the Southern Gas Corridor Project, which supplies Azerbaijani natural gas to Europe.

He noted that according to expectations, Azerbaijani gas will reach the continent by 2020.

Sharifov underlined that the economy of Azerbaijan has been growing rapidly over the past 15 years. GDP increased by 3.3%, industrial production by 2.6%, exports by 4.7% and foreign exchange reserves by 24 times.

According to the President's instruction, Azerbaijan, as a donor country, will participate in the programs of international financial organizations, including the ADB Asian Development Fund.