JOYFUL news for Baku metro users

The Asian Development Bank (ADB) has approved $225,000 for technical assistance as part of the Baku metro expansion project.

As Report informs with reference to the ADB, the funds will come from a special technical assistance fund and will be directed to support Baku Metro CJSC. In particular, the financing will allow for the analysis of project documentation, support institutional reforms to improve management efficiency in the transport sector, strengthen capacity in implementing infrastructure projects, as well as transfer knowledge about ADB standards in the areas of ecology, procurement, and other aspects of project activities.

It is expected that this initiative will contribute to the development of a modern, efficient, and passenger-oriented metro in Baku.

Azerbaijan has been a member of the ADB since 1999, and during this time, the bank has provided the country with more than $5 billion in loans. Of these, $1.5 billion was directed to transport projects, and $1.7 billion to energy projects.

In addition, the ADB finances programs in the areas of healthcare, agriculture, and finance. Currently, a new Partnership Strategy with Azerbaijan for 2025-2029 is being developed, which will replace the previous plan for 2019-2023.

The Asian Development Bank was founded in 1966. Its headquarters is located in Manila (Philippines), and the organization includes 69 countries, 49 of which are located in the Asia-Pacific region.