ADB may allocate $ 780 mln. to Azerbaijan in next 3 years
  • ECONOMY

  • 14:52 01 September 2020

ADB may allocate $ 780 mln. to Azerbaijan in next 3 years

It has been stated that the Asian Development Bank (ADB) is ready to allocate $ 780 mln. to Azerbaijan in the framework of the business plan for 2021-2023 for the country confirmed by the Board of Directors of the bank, ONA reports citing ADB.

Based on the business plan, it has been envisaged that the credits in the amount of $ 85 mln. will be allocated by the bank in 2021, $ 370 mln. – in 2022, and $ 325 mln. – in 2023.

In the framework of the business plan, the credits under 5 credit lines have been requested for Azerbaijan in order to allocate funds to agriculture (irrigation), transport (railway infrastructure), finance (non-bank credit organizations and small and medium businesses (SMB)) and education (support to economic reforms) sectors.

Note that on its part, the Azerbaijani Government will allocate extra $ 15 mln. for the project of development of irrigation and drainage system, and $ 20 mln. for restoration of the Southern Railway Section of the International North-South Transport Corridor Project.

ONA

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