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ADB Economic Diversification Support for Azerbaijan Proves Challenging

ADB Economic Diversification Support for Azerbaijan Proves Challenging

5 mins read

The FINANCIAL -- The Asian Development Bank’s (ADB) support for Azerbaijan has helped advance inclusive economic growth by focusing financing for infrastructure outside the developed Baku–Absheron region. But its support for diversifying Azerbaijan’s oil-based economy—the country’s biggest development challenge for nearly two decades—was insufficient, says an assessment by ADB’s Independent Evaluation Department of the bank’s $5.1 billion loan and other support for Azerbaijan since 2011.…

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ADB Economic Diversification Support for Azerbaijan Proves Challenging

5 mins read

The FINANCIAL -- The Asian Development Bank’s (ADB) support for Azerbaijan has helped advance inclusive economic growth by focusing financing for infrastructure outside the developed Baku–Absheron region. But its support for diversifying Azerbaijan’s oil-based economy—the country’s biggest development challenge for nearly two decades—was insufficient, says an assessment by ADB’s Independent Evaluation Department of the bank’s…