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Ulviyya Shahin

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

It has been reported from the Ministry of Economy that during the meeting, potential financing opportunities for combating climate change, as well as project proposals and possible partnership directions in the activities and global climate policy framework of the ADB within COP29, were discussed.

The Minister of Economy, Mikayil Jabbarov, emphasised the successful cooperation between Azerbaijan and the ADB. It was noted that this year marks the completion of 25 years of partnership between our country and the ADB, highlighting the significance of further deepening this beneficial collaboration. The close involvement of the bank in various areas such as environmental sustainability, digital development, public-private sector partnership, energy, increasing the transit and logistics potential of our country, and financing various infrastructure projects was highly appreciated.

During the meeting, information was provided about measures aimed at increasing efficiency in state-owned enterprises and attracting private investments to these enterprises, with opportunities for collaboration in this direction being highlighted.

Yevgeniy Jukov emphasised the importance that the ADB attaches to its relations with Azerbaijan. It was noted that the steps taken in Azerbaijan to diversify the economy and promote inclusive growth are commendable. The official of the institution congratulated Azerbaijan on being selected as the host of COP29 and touched upon the importance of our country's "green development" agenda. It was stated that the ADB is ready to provide technical support, particularly in the development of carbon markets, in connection with COP29.

The parties conducted discussions around the current state of cooperation and mutually relevant issues. Potential financing opportunities for combating climate change, as well as project proposals and possible areas of collaboration in activities and global climate policy within the framework of COP29 by the ADB, were discussed.

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