ADB Supports Azerbaijan in Enhancing Sustainable Water Resources Management

The Asian Development Bank (ADB) is considering offering technical assistance (TA) for the "Strengthening Transboundary Water Collaboration for Climate-Resilient Water Management under the Central Asia Regional Economic Cooperation (CAREC) Water Pillar" project.

The project covers seven countries, including Azerbaijan, Georgia, and the Central Asian countries, The Caspian Post reports citing local media.

Financing will be provided through the Technical Assistance Special Fund for $960,000.

Azerbaijan has been a member of ADB since 1999. During this time, the bank has provided over $5 billion in loans to the country, including $1.5 billion for transport projects and $1.7 billion for energy projects.

ADB was founded in 1966 and is headquartered in Manila, Philippines. The bank is owned by 69 members, 50 of which are from the Asia-Pacific region.