BAKU, Azerbaijan, March 17. The Asian
Development Bank continues to help Azerbaijan personal sector
via numerous initiatives, Candice McDeigan, ADB Country Director
in Azerbaijan, informed Trend.
“In 2022, ADB partnered with the Ministry of Economy to launch a
technical help challenge with a $1.2 million grant to help
the Government’s Public-Private Partnership (PPP) agenda and
enhance personal sector involvement in infrastructure initiatives,”
she mentioned.
According to the nation director, this technical help has
constructed the capability of involved authorities companies and helped
develop legislative enactments.
Meanwhile, within the finance sector, ADB continued to help the
improvement of the Microfinance Strategy and Financial Inclusion
Framework within the nation.
“We additionally partnered with the Central Bank of Azerbaijan to
enhance client safety ideas. Last yr, we partnered
with the Ministry of Finance and the Public Debt Management Agency
to reinforce debt administration capability and replace the Medium- and
Long-Term Debt Management Strategy. We supplied coverage
suggestions to strengthen fiscal debt administration practices
throughout crises to enhance social providers, obligatory well being
insurance coverage, and healthcare service supply,” McDeigan
defined.
In addition, as ADB nation director identified, below the
Integrated Fiduciary Risk Assessments and Strengthening Country
Systems technical help, the financial institution supported the State Service
for Antimonopoly and Consumer Market Control in reviewing the draft
new public procurement legal guidelines and supplied suggestions for
additional enchancment.
To date, ADB has dedicated 65 public sector loans, grants, and
technical help totaling $3.7 billion to Azerbaijan.
Cumulative mortgage disbursements to Azerbaijan quantity to $3.93
billion. These have been financed by common and concessional strange
capital assets. ADB’s ongoing sovereign portfolio in Azerbaijan
contains 2 loans and 1 sovereign assure value $856.8
million.
