Azernews.Az

Nazrin Abdul

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The Asian Development Bank (ADB) has approved technical assistance worth 2 million USD to support the implementation of the “Private Capital Mobilization Indicator Preparation and Implementation” project. Azerbaijan, as one of the developing countries, is participating in this project.

As reported by Azernews, citing the bank, the project will be financed through the Special Technical Assistance Fund. It aims to develop a comprehensive methodology for Private Capital Mobilization (PCE) and apply it to various projects in ADB's member countries. This initiative covers a broad region, including not only Azerbaijan but also Central Asia, South and Southeast Asia, East Asia, and the Pacific Islands.

The technical assistance will also strengthen ADB's analytical base in private capital mobilization projects, contribute to knowledge dissemination, and enhance potential across the bank's operational departments and member countries. Special attention will be given to enhancing the bank's ability to systematically measure and stimulate private sector involvement in development projects.

The expected impact of the project aligns with ADB’s long-term objectives for private sector development. These goals include expanding private sector participation in the development of Asia and the Pacific and creating sustainable mechanisms to mobilize private capital and foster private sector growth.

As a result of this technical assistance, ADB anticipates the strengthening of its institutional capacity to support private sector development through more efficient operations and enhanced mechanisms to increase potential in this area.