Azerbaijan and ADB
In the Spotlight
ADB President Takehiko Nakao attended the 15th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference, which welcomed Georgia as its 11th member. CAREC Ministers agreed to formulate a new long-term strategy for CAREC to enhance its relevance in the context of changing economic and development conditions.
Supporting financial institutions is important as countries in Central Asia and the Caucasus work to reform and modernize their economies, says ADB's Nana Khurodze.
ADB operations in Azerbaijan are closely aligned with the government's priorities, including diversifying the economy beyond the oil sector. It is focused on promoting inclusive economic growth and regional cooperation efforts.
Azerbaijan’s gross national income per capita has increased approximately tenfold in a decade and a half. This robust growth has been largely driven by the extraction and processing of fossil fuels, along with high levels of public expenditure.
The ADB country partnership strategy, 2014–2018 for Azerbaijan aims to diversify the economy, foster new economic opportunities, promote inclusive growth, and reduce disparities between urban and rural areas.
Azerbaijan is a member of the Central Asia Regional Economic Cooperation (CAREC) Program.
Projects in the Azerbaijan
Population living below the national poverty line in Azerbaijan (2014)
Maternal Mortality Ratio in Azerbaijan, per 100,000 live births (2015)
Population in Azerbaijan, in millions (2015)
Average annual population growth rate in Azerbaijan (2010-2015)