Azerbaijan and ADB

In the Spotlight

Overview

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 will host ADB's 48th Annual Meeting in Baku from 2-5 May 2015.

View the ADB and Azerbaijan fact sheet.

 48th Annual Meeting of the Board of Governors of the Asian Development Bank

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Funding Information

Fast Facts

9.42(2013) Population in millions

1.2%(2008-2013) Average annual population growth

6.0(2012) Population living below the national poverty line

Download 2014 Basic Statistics