Azerbaijan, ADB mull partnership strategy for 2019-2023

Mon 22 Oct 2018 13:18 GMT | 17:18 Local Time

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Azerbaijani Finance Minister Samir Sharifov has received a delegation led by Vice President of the Asian Development Bank (ADB) Wencai Zhang, the Finance Ministry said in a statement Oct. 22.

The current state and areas of further cooperation between Azerbaijan and ADB, including the country's partnership strategy for 2019-2023, as well as the progress in the implementation of the projects jointly realized in electricity, transport/road infrastructure and railways, water supply have been discussed at the meeting.

In particular, the support provided by ADB to macroeconomic stability in Azerbaijan, enhancement of efficiency in the public sector, financing the Southern Gas Corridor, and reconstruction of a part of the North-South transport corridor has been emphasized.

The main objective of ADB, established in 1966, is to support the economic development of member countries, to help eliminate poverty and improve living standards, Trend reports.

The ADB members are 67 countries, including 48 regional and 19 non-regional countries.

The main office of the bank is situated in the capital of the Philippines, Manila.

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