Azernews.Az

By Ayya Lmahamad

Azerbaijan and Asian Development Bank (ADB) have discussed future of cooperation that includes research on economic growth and diversification, practical sessions on the model of macroeconomic analysis and forecasting, and the development of economic reform documents in areas of strategic importance.

The discussion was held during the meeting between Azerbaijan’s Center for the Analysis of Economic Reforms and Communication Executive Director Vusal Gasimli and the ADB’s new Country Director Candice McDeigan on March 12.

During the meeting, the parties discussed the latest economic reforms carried out in Azerbaijan, the country’s leading position in the Doing Business and other international ratings.

The meeting participants were briefed on Azerbaijan’s national priorities for socio-economic development until 2030, and the Center’s activities.

In the meantime, the technical assistance and cooperation provided by the ADB in developing analysis and forecasting models for macroeconomic research were highly appreciated.

The newly appointed Country Director of the ADB noted Bank’s activities in infrastructure rehabilitation and financial sector development in Azerbaijan.

Speaking about areas for future cooperation, research on economic growth and diversification, practical sessions on the model of macroeconomic analysis and forecasting, and the development of economic reform documents in areas of strategic importance were suggested.

Asian Development Bank’s Chief economist Nail Valiyev, Center’s Economic Analysis and Analytical Information Department Head Rashad Huseynov and Project Department’s Head Vusala Jafarova also participated in the meeting.

Azerbaijan has been a member of the Asian Development Bank since 1999. Since 1999, the bank has committed $4.4 billion in loans, $32.28 million in technical assistance projects, including ADB-administered co-financing for Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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