Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Thursday, December 14, 2017

ABD president meets with Azerbaijan leaders

Asian Development Bank (ADB) President Takehiko Nakao met with Azerbaijan President Ilham Aliyev and Minister of Finance and ADB Governor Samir Sharifov on Tuesday to address details of the 2015 Board of Governors meeting.

The meeting next year gives the country an opportunity to showcase what it has to offer for investors. The gathering will bring 48 regional and 19 non-regional ADB members. For Azerbaijan this is an excellent opportunity to promote itself.

During the visit, Nakao praised the rapid growth and macroeconomic improvement that Azerbaijan has experienced and sustained. He noted the country's growth in medical, educational and water sectors as a sign of prosperity. He also hoped that further partnership between the ADB and Azerbaijan can facilitate continued sustainable economic growth.

The country's abundance of hydrocarbon resources have lead to the gross domestic income per capita to multiply tenfold since 2001, reaching $7,350 in 2013.

“ADB’s 2014-2018 Country Partnership Strategy for Azerbaijan will help the country to diversify the economy and develop the private sector,” Nakao said. “ADB will focus its assistance on transport, energy and urban services, as well as financing small and medium enterprises and public-private partnerships."

The ADB has provided $1.8 billion in loans to Azerbaijan since the nation joined the bank in 1999.

Organizations in this story

Asian Development Bank

Get notified the next time we write about Asian Development Bank!