ADB President Announces Plans to Invest Up to $2.5B in Azerbaijan, Strengthen Partnership – EQ
In Short : ADB President Masato Kanda has announced plans to invest up to $2.5 billion in Azerbaijan under a new partnership strategy. During his meeting with President Ilham Aliyev, both sides reaffirmed commitments to deepen cooperation. The investment is expected to support key development priorities, including infrastructure, energy and economic diversification, strengthening ADB’s long-term engagement in Azerbaijan’s growth.
In Detail : BAKU, AZERBAIJAN — Asian Development Bank (ADB) President Masato Kanda met with Azerbaijan President Ilham Aliyev to discuss ADB’s strategic support for the country’s development priorities, aimed at transforming Azerbaijan into a regional hub for connectivity, trade, and energy linking Central Asia and Europe. Mr. Kanda announced that ADB plans to invest up to $2.5 billion to support its objectives through the new Country Partnership Strategy (2025–2029).
“ADB remains committed to supporting Azerbaijan’s transformation into a regional hub linking Central Asia and Europe,” Mr. Kanda said. “We are working alongside the government and the private sector to deliver substantial investments in smart mobility infrastructure, renewable energy, digitalization, and skills development.”
To help diversify Azerbaijan’s export mix and reach new markets, ADB is building green and efficient infrastructure. Major regional projects such as the Central Asia Regional Economic Cooperation (CAREC) Corridor 2 (Middle Corridor) and the Trans-Caspian Green Corridor enhance connectivity, facilitate trade, and will enable the transfer of renewable energy resources from Central Asia to European markets. Digital connectivity and digital trade are also expected to increase within the region.
Mr. Kanda met with Prime Minister Ali Asadov to discuss potential new areas of collaboration that attract private investment, enhance innovation, and create more jobs. He also met with Minister of Finance Sahil Babayev, Minister of Economy Mikayil Jabbarov, and Minister of Digital Development and Transport Rashad Nabiyev to discuss ADB’s ongoing and future support for Azerbaijan.
Mr. Kanda visited a metro station as part of the forthcoming Baku Metro Expansion Project and met with its senior management. He also toured an ADB-financed modern warehouse facility that has enhanced food accessibility, affordability, and safety across the country, and met with smallholder farmers who are learning resilient agricultural practices.
Since 1999, ADB has provided $5.5 billion in public and private financing and technical assistance for the country, including transport, energy, agriculture, health care, trade, and disaster risk reduction. This support has been vital in transforming lives and contributing to a prosperous future for the people of Azerbaijan.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
