AfDB ready to provide financing to local private sector companies in Azerbaijan – Country Director (Exclusive)

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BAKU, Azerbaijan, April 4. The Asian Development Bank (AfDB) stands ready to provide financing to local private sector companies, financial institutions and structured state-owned enterprises with great flexibility to meet the needs of projects in Azerbaijan, Candice McDeigan, Country Director of the Bank Asian Development Bank (ADB) for Azerbaijan said in an exclusive interview with Trend.

“The AfDB supports the private sector development agenda of the Azerbaijani government through its upstream support which aims to create an enabling environment for mobilizing private investment,” she said.

McDeigan recalled that the AfDB and Avrora LLC, one of the local food and beverage producers, signed a $5.9 million loan agreement to help support the supply chain and operations of the l ‘business.

Azerbaijan joined the AfDB in 1999. AfDB operations in the country aim to stimulate private sector development, increase public sector efficiency, improve infrastructure and strengthen human capital, investment in the bank being closely aligned with the Azerbaijani government’s strategic roadmaps for the national economy and key economic sectors.

The AfDB emphasizes support for structural reforms, institutional strengthening, the expansion of knowledge work and the financing of innovative projects. The bank is also helping the country achieve the Sustainable Development Goals and achieve its Nationally Determined Contribution under the Paris Agreement of the United Nations Framework Convention on Climate Change.

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