Final version of ADB’s new strategy for Azerbaijan to be ready early next year

Final version of ADB’s new strategy for Azerbaijan to be ready early next year
# 06 August 2013 10:34 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. An ADB team led by Mr. Olly Norojono, Resident Representative, concluded its consultations with the relevant stakeholders on the draft country partnership strategy for Azerbaijan. The strategy will cover 2014-2018. The team met with government officials, civil society organizations, think tanks, development partners, and businesses. Mr. David Oldfield, Senior Economist was pleased with the consultation process. "We are very happy to receive positive feedback and useful inputs to the draft strategy from various stakeholders, which will allow us to refine the strategy and finalize it some time early next year," he said. He further emphasized that the proposed strategy will address the demand-driven infrastructure needs of the country and scale up the knowledge work that is appropriate for an upper middle-income country such as Azerbaijan. The priority sectors of transport, municipal infrastructure and services, energy, and private sector finance were identified through diligent needs assessments and frequent discussions with the government about areas in need of support from development partners. The infrastructure sectors represent a continuity of ADB’s operations, while the addition of private sector finance as a priority sector reflects the greater emphasis that ADB will place on private sector operations through lending to banks and trade finance program.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2012, ADB assistance totaled $21.6 billion, including cofinancing of $8.3 billion.

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