[ad_1] Azerbaijan and Kazakhstan saw their economies contract significantly due to COVID-19. Although both are resource-rich, upper-middle-income countries, economic shocks like the COVID-19 pandemic underline the need to expand economic diversification to make their economies less dependent on one export sector to become more resilient, Report informs referring to the Asian Development Bank (ADB). “Azerbaijan’s… Continue reading ADB: Azerbaijan needs to expand economic diversification
Tag: ADB
ADB: Azerbaijan developing climate-resilience strategies
[ad_1] While the majority of energy produced in Azerbaijan comes from fossil fuels, hydroelectric power generation also plays a role in the country’s generation capacity, Report informs, citing “Climate Risk Country Profile” by World Bank (WB) and Asian Development Bank (ADB). “Hydropower accounted for 8% of generation in Azerbaijan in 2016, down from 18% in… Continue reading ADB: Azerbaijan developing climate-resilience strategies
ADB praises Azerbaijan’s steps in fighting COVID-19
[ad_1] Finance Minister Samir Sharifov met with Anthony McDonald, Executive Director of the Asian Development Bank (ADB), in a video conference. The sides exchanged views on the current state and future directions of cooperation between Azerbaijan and the ADB, emphasizing the successful development of relations. Sharifov spoke about the macroeconomic situation in the country, the… Continue reading ADB praises Azerbaijan’s steps in fighting COVID-19
ADB: Lower demand for railway transportations to deepen financial problems
[ad_1] The Asian Development Bank (ADB) has published a report on the implementation of the development program in the sphere of railways in Azerbaijan. Report informs that the document features the current state and forecasts on the country’s railway sector and provides information about the projects implemented within the ADB program. The railway development program… Continue reading ADB: Lower demand for railway transportations to deepen financial problems
ADB: Capital of Azerbaijan’s Azerishiq OJSC to increase by 100M manats annually by 2025
[ad_1] The Asian Development Bank (ADB) is ready to continue supporting reforms in Azerishiq OJSC (100 percent state energy distribution company), Report informs referring to the ADB. This should entail Azerishiq’s participation in a political dialogue with the government of Azerbaijan to sustainably improve the financial performance of the enterprise. According to ADB forecasts on… Continue reading ADB: Capital of Azerbaijan’s Azerishiq OJSC to increase by 100M manats annually by 2025