BAKU, Azerbaijan, Aug. 6. The Asian Development
Bank is considering a project titled Preparing Azerbaijan
Sustainable Power Infrastructure Projects.


The project is expected to be financed through the Technical
Assistance Special Fund in the amount of $500,000.


No other details of the project have been disclosed at this
stage.


According to the latest data from the Asian Development Bank
(ADB), Azerbaijan secured $2.53 billion in sovereign financing for
10 projects between 2015 and 2024. More than half of that funding
(51%) was allocated to regional cooperation and integration
projects, representing one of the highest shares among ADB's peer
countries. Another 39% supported private sector development, while
18% was dedicated to climate finance and 10% to digital
transformation initiatives.


Over the same period, ADB approved nine non-sovereign operations
totaling $963.9 million, all of which were directed toward private
sector development. Notably, 78% of these commitments were linked
to regional cooperation and integration—the highest proportion
among comparable upper middle-income economies in ADB's
portfolio.







Data from the Central Bank of Azerbaijan show that ADB's foreign
direct investment in the country's economy reached $2.075 million
in the first quarter of this year, up $455,000, or 28.1%, from the
same period a year earlier.


ADB has also expanded its support for Azerbaijan's energy
transition. In April 2025, the bank signed a memorandum of
understanding with the Asian Infrastructure Investment Bank (AIIB)
and the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan
to support the preparation of a feasibility study for the Caspian
Green Energy Corridor, a regional initiative aimed at enabling
cross-border trade in renewable electricity.


The bank is also providing technical assistance for renewable
energy projects in Azerbaijan. Among its recent initiatives is a
pilot floating solar power plant on Boyukshor Lake, launched in
2024 to evaluate the commercial viability of floating photovoltaic
technology and lay the groundwork for future large-scale
deployment.


These efforts are aligned with ADB's 2025–2029 Country
Partnership Strategy for Azerbaijan, which identifies green,
resilient and diversified economic growth as a central pillar of
cooperation, with a strong focus on clean energy, climate
resilience and sustainable infrastructure.