Azerbaijan and ADB
In the Spotlight
Despite low prices, oil production in the first half of the year rose by 1.3%, reversing a 3.9% contraction in January–June 2014, but is expected to level off for the rest of the year to allow annual maintenance, while fiscal policy is expected to remain somewhat expansionary in 2015 to support the economy.
As a connecting link between Europe and East Asia, Central Asia is set to reap the benefits of burgeoning trade between the two economic giants.
The Asian Development Bank, the European Bank for Reconstruction and Development, and the Black Sea Trade and Development Bank are working together to support the development of a gas field that feeds into Europe.
About 14,000 children in Azerbaijan are learning how to keep their villages cleaner and safer through fun activities in their school.
Located in the South Caucasus, Azerbaijan is an oil-rich country whose gross national income per capita has increased approximately tenfold since 2001. Consequently, in 2013, ADB upgraded Azerbaijan to a Category C developing member country. Economic growth has been spurred by the exploration and development of oil and gas reserves, high levels of public expenditure, and substantial reforms to support a market-based economy. Despite robust growth, the economy of Azerbaijan remains largely dependent upon the extraction and production of fossil fuels.
Under the country partnership strategy, 2014-2018, ADB continues to work with Azerbaijan to help achieve development targets and ensure inclusive growth.
Azerbaijan hosted ADB's 48th Annual Meeting in Baku from 2-5 May 2015.
View the ADB and Azerbaijan fact sheet.
Projects in the Azerbaijan
- Shah Deniz Stage II Gas Field Expansion Project
- Preparing MFF Power Distribution Enhancement Investment Program
- Improve Financial Service Outreach for Agriculture - Finca Azerbaijan
- AZE: Improving Financial Service Outreach for Agriculture - AccessBank Azerbaijan
- Third Road Network Development Investment Program