Head of Azerbaijani Finance Ministry Samir Sharifov met with Anthony McDonald, Executive Director of the Asian Development Bank (ADB), in a video conference, a source in the ministry told reporters.

According to the source, the sides exchanged views on the current state and future directions of cooperation between Azerbaijan and the ADB, emphasizing the successful development of relations.

Sharifov informed about the macroeconomic situation in the country, the measures taken by the government under the leadership of President Ilham Aliyev, the restoration and reconstruction of the liberated lands [liberated from Armenian occupation in the 2020 Karabakh war], the fight against the COVID-19 pandemic, and its impact on the country’s economy, as well as the rapid vaccination process.

McDonald stressed the ADB Board of Directors highly appreciates the preventive measures taken by the Azerbaijani government in 2020 by correct analysis of the risks during the pandemic and financing of the work to combat COVID-19 through the country’s domestic resources.

He noted that namely due to the above factors the bank’s Board of Directors unanimously supported the decision to allocate a $250 million loan in 2021 to help the Azerbaijani government to implement a comprehensive plan to mitigate the medical, social and economic consequences of the coronavirus pandemic.