Mikayil Jabbarov Meets With Asian Development Bank's CEO


(MENAFN- AzerNews)

Ulviyya Shahin Read more

The Minister of Economy, Mikayil Jabbarov, met with YevgeniyJukov, the Head Director of the Central and West Asia Department ofthe Asian Development Bank (ADB), Azernews reports, citing the Economy Ministry.

It has been reported from the Ministry of Economy that duringthe meeting, potential financing opportunities for combatingclimate change, as well as project proposals and possiblepartnership directions in the activities and global climate policyframework of the ADB within COP29, were discussed.

The Minister of Economy, Mikayil Jabbarov, emphasised thesuccessful cooperation between Azerbaijan and the ADB. It was notedthat this year marks the completion of 25 years of partnershipbetween our country and the ADB, highlighting the significance offurther deepening this beneficial collaboration. The closeinvolvement of the bank in various areas such as environmentalsustainability, digital development, public-private sectorpartnership, energy, increasing the transit and logistics potentialof our country, and financing various infrastructure projects washighly appreciated.

During the meeting, information was provided about measuresaimed at increasing efficiency in state-owned enterprises andattracting private investments to these enterprises, withopportunities for collaboration in this direction beinghighlighted.

Yevgeniy Jukov emphasised the importance that the ADB attachesto its relations with Azerbaijan. It was noted that the steps takenin Azerbaijan to diversify the economy and promote inclusive growthare commendable. The official of the institution congratulatedAzerbaijan on being selected as the host of COP29 and touched uponthe importance of our country's "green development" agenda. It wasstated that the ADB is ready to provide technical support,particularly in the development of carbon markets, in connectionwith COP29.

The parties conducted discussions around the current state ofcooperation and mutually relevant issues. Potential financingopportunities for combating climate change, as well as projectproposals and possible areas of collaboration in activities andglobal climate policy within the framework of COP29 by the ADB,were discussed.

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