Azerbaijani Finance Minister Samir Sharifov said at a meeting in Baku, Azerbaijan, earlier this month that The Asian Development Bank (ADB) has invested $1.7 billion in the country since 1999 through loans and grant agreements.
"Some $1.334 billion have been invested as of early this year under loan agreements with the bank," Sharifov said, according to AzerNews. "Following the restoration of Azerbaijan's independence, the effective integration of the country into the global economic system was chosen as a strategic goal of economic policy, and this goal certainly would not have been achieved without cooperation with international financial institutions."
Sharifov said Azerbaijan intends to continue strengthening cooperation with the ADB to achieve sustainable economic growth.
Established in 1966 and headquartered in Manila in the Philippines, the ADB has 67 member countries--its leading shareholders are Japan, the U.S, India, China, Australia, South Korea and Canada, AzerNews reports.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme