(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 11. Asian Development Bank's (ADB) investments in Azerbaijan will be selective, innovative, and focused on supporting non-oil and gas economic growth and private sector development, Trend reports citing the Bank.

“For Azerbaijan, the Asian Development Bank (ADB) will provide analytical and advisory support to policymakers, partners, and investors and to jointly design and implement cost-effective, impactful solutions. ADB's investments will be selective, innovative, and focused on supporting non-oil and gas economic growth and private sector development. These will be structured around two pillars: (i) enabling a green and diversified economy and (ii) fostering low carbon connectivity and inclusive development. Crosscutting support, i.e., across sectors, will be provided to support private sector development, boost climate action and disaster risk management, promote gender equality, and accelerate digital transformation,” said the Bank in its Country Partnership Strategy for Azerbaijan for 2025-2029.

The country partnership strategy (CPS) aligns well with government strategies outlined in Azerbaijan 2030 and the Socioeconomic Development Strategy 2022–2026.

A One ADB approach will support the country's transition to a knowledge-based, innovative, green, and diversified economy, consistent with the midterm review of ADB's Strategy 2030 and its focus areas.6 Given ongoing regional and global uncertainties and associated risks and opportunities, the CPS will adopt a flexible approach to meet Azerbaijan's needs.

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