ADB approved a new loan for support of diversification of Azerbaijan's economy

06.12.2017,17:29


December 6, Fineko/abc.az. The Board of Directors of the Asian Development Bank (ADB) has approved a $250 million loan for Azerbaijan.

The loan is given within the first phase of project "Improving governance and public sector efficiency".

Within the first phase it is planned to achieve fiscal consolidation and economic diversification. The second phase is designed to consolidate the effect achieved and is scheduled for 2018.

Azerbaijan entered in the ADB member ranks on 22 December 1999, and the share of country's participation in the Bank's equity capital is 0.5%

Since the very beginning of cooperation the ADB has awarded to Azerbaijan grants and loans in the amount of $4.1 bn for various projects in the field of energy, transport, urban infrastructure and other spheres.

 

 

Keywords: ADB loan