Countercyclical Support Facility Program (ADB-50145-001)

Countries
  • Azerbaijan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 7, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Republic of Azerbaijan
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 501.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 501.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Dec 7, 2016


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Project Description
This project is aimed at helping the Government of Azerbaijan mitigate the significant negative economic impact caused by the crash in oil prices and economic recession. This project will facilitate the design of structural reforms which cover macro-fiscal management, state-owned enterprise reform, and finance sector development. The project will also help build capacity within departments for implementation of reforms.
Investment Description
  • Asian Development Bank (ADB)
This project provides a loan for US$500 million, and also provides a grant from the Technical Assistance Special Fund for $US1.2 million.
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main