Azerbaijan and ADB
In the Spotlight
ADB President Takehiko Nakao met with Azerbaijan President Ilham Aliyev to discuss enhancing the partnership with the country as it prepares to host next year’s ADB Annual Meeting in Baku.
The 15-year partnership between ADB and Azerbaijan has brought the Central Asian country substantial benefits, contributing to its remarkable development in recent years.
ADB and the Government of Azerbaijan have agreed to a country partnership strategy for 2014-2018 to help diversify the economy and foster new economic opportunities, promote inclusive growth, and reduce urban-rural disparities.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
The incomes of Azerbaijan’s population, on average, rose tenfold between 2001 and 2012, mainly driven by oil revenues. Meanwhile, poverty has dropped significantly over the past decade. The Government of Azerbaijan has set a target for average incomes to reach $13,000 by 2020.
ADB continues to work with Azerbaijan to help achieve development targets and ensure inclusive growth.
Azerbaijan will host ADB's 48th Annual Meeting in Baku from 2-5 May 2015.
View the ADB and Azerbaijan fact sheet.
9.42(2013) Population in millions
1.2%(2008-2013) Average annual population growth
6.0(2012) Population living below the national poverty line