The Asian Development Bank (ADB)

General informations

· The Asian Development Bank (ADB) was established in 1966.

· The Bank currently has 69 member countries.

· Its headquarters is located in Manila, the capital of the Philippines.

· Its mission is to support the economic development of countries in Asia.

· As Japan is the largest shareholder of the ADB, a Japanese representative is elected as the President of the Bank. The President of the ADB has been Masato Kanda since 24 February 2025.

Cooperation with Azerbaijan

· Azerbaijan became a member of the ADB on 29 October 1999.

· The ADB Country Office in Azerbaijan has been operating since November 2004.

· The Executive Director for Azerbaijan at the ADB Board of Directors is Rachel Thompson (Australia).

· The ADB Country Director for Azerbaijan has been Sunniya Durrani-Jamal (Cambodia) since 7 October 2024.

Central Asia Regional Economic Cooperation (CAREC) Program

· The CAREC Program was established by the ADB in 2001. Its main priority areas include energy, transport, and trade.

· In Azerbaijan, the coordinating authority for the CAREC Program is the Ministry of Economy.

· In the energy sector, Azerbaijan is represented at the meetings of the Energy Sector Coordinating Committee by the Ministry of Energy.

· In 2022, within the framework of the CAREC Energy Strategy 2030, the Forecast for the Development of the Energy Sector of Azerbaijan until 2030 was prepared. 

Pilot Project on Knowledge Exchange and Technical Assistance Support for the Development of Floating Solar Panel Systems

Within the framework of the project, a solar power facility with a total capacity of 100 kW was commissioned on Lake Boyukshor on 30 July 2024.

Project on the Development and Transmission of Green Energy between the Governments of Azerbaijan, Kazakhstan, and Uzbekistan (Caspian Green Energy Corridor Project)

The Agreement on Strategic Partnership in the Field of Development and Transmission of Green Energy between the Government of the Republic of Azerbaijan, the Government of the Republic of Kazakhstan, and the Government of the Republic of Uzbekistan was signed by the Heads of State on 13 November 2024 within the framework of COP29.

Within the framework of the project, three ministerial meetings co-chaired by the Ministers of Energy and Economy of the three countries were held: on 14 November 2023 in Baku, on 1 May 2024 in Tashkent, and on 6 August 2024 in Astana. On 2 July 2025, a joint venture named Green Corridor Union LLC was established in Baku within the framework of the project.

Based on the Memorandum of Understanding signed in Baku on 4 April 2025 between the Ministry of Energy of the Republic of Azerbaijan, the Ministry of Energy of the Republic of Kazakhstan, the Ministry of Energy of the Republic of Uzbekistan, the Asian Development Bank, and the Asian Infrastructure Investment Bank, each bank provided financial support for the preparation of the Project’s Feasibility Study.

The Asian Development Bank and the Asian Infrastructure Investment Bank plan to separately allocate financial resources for the development of a Coastal Infrastructure Project Concept to Support Large-Scale Offshore Wind Power Plants in the Caspian Sea.