The ADB outlines the goals for cooperation with Azerbaijan in 2022-2023

The Asian Development Bank's (ADB) proposed to boost human capital in Azerbaijan in 2022-2023 through a technical vocational education development intervention that would upgrade and create modern vocational schools while also promoting policy changes. Candice McDeigan, the ADB country director for Azerbaijan, stated in an exclusive interview with Trend.

She also mentioned that repairing the regional irrigation network, boosting agricultural activities, and ensuring food security are all priority.

In July 2021, the ADB awarded a $250 million loan to the Government of Azerbaijan to help establish a comprehensive strategy to minimise the pandemic's negative health, social, and economic effects, according to McDeigan.

Azerbaijan will get a loan from the Asian Development Bank to build a solar power facility

According to local media, the Asian Development Bank (ADB) will give Masdar Azerbaijan Energy with a $23.2 million loan for the building and operation of the 230 MW Garadagh solar power plant in the nation.

It's worth noting that Masdar Azerbaijan Energy is a corporation established in Azerbaijan that's in charge of putting the Garadagh solar power plant together and commissioning it.

Masdar, based in the United Arab Emirates, is a regional and international pioneer in renewable energy and sustainable urban development.

The European Bank for Reconstruction and Development (EBRD) has previously indicated interest in providing a $51 million long-term loan for the development, building, and management of the Garadagh solar power plant.

The ground-breaking ceremony for the 230 MW Garadagh solar power plant was held on March 15 at Baku's Gulustan Palace.

The facility will be built by Masdar and the project will cost roughly $225 million to construct.

The project is expected to generate 500 million kWh of electricity each year, enough to power 110,000 homes. In addition, the facility will save 110 million cubic metres of gas and 200,000 tonnes of carbon dioxide emissions. It is estimated that over 500,000 solar panels would be deployed.

By the end of the first half of 2023, the solar power plant should be up and running.