Of azerbaijan high technical educational institutions

Ключевые слова:
промышленный потенциал, нанесенный ущерб, полезные ископаемые, 
политика индустриализации 
 
Publication history 
Article received: 07.03.2023 
Article accepted: 21.03.2023 
Article published online: 05.04.2023
DOI suffix: 10.36962/PAHTEI27042023-127 
 
 
 

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PAHTEI 
PROCEEDINGS OF AZERBAIJAN HIGH TECHNICAL EDUCATIONAL INSTITUTIONS 
VOLUME 27 ISSUE 04 2023 
E-ISSN: 2674-5224 
DEVELOPMENT STRATEGY OF REGIONAL DEVELOPMENT BANKS 
IN DEVELOPING COUNTRIES
Mushfiq Guliyev
1
, Gulanbar Abbasova
2 
1,2 
Department of Economics and Technological Sciences, 
1,2
Azerbaijan State University of Economics, 
1
Doctor of Sciences in Economics, Professor 
2
Master student, [e-mail] 
 
ABSTRACT
Regional Development Banks (RDB) have common characteristics. First, these banks pursue 
common goals stemming from the needs of developing countries. They are called to implement 
long-term lending for regional development projects; paying special attention to regional 
cooperation and crediting of regional associations; develop a development strategy taking into 
account regional characteristics. Second, about 1/3 of the members of development banks are 
developed countries. Since they own a significant part of the banks' capital, they have a significant 
impact on their activities. Any decision of the Inter-American Development Bank (IADB) can be 
blocked by the US, and the Asian Development Bank (ADB) by Japan and the US, which together 
have 1/3 of the votes. Thanks to the principle of distribution of votes depending on the authorized 
capital, the influence on the Regional Development Banks of developed countries is maintained. 
Thirdly, Regional Development Banks have the same type of procedures related to the formation 
of obligations, mobilization of resources to special funds, credit policy, similar to the World Bank 
Group in many ways, but at the same time they have their differences. The formation of the main 
functions of the RDB took place under the influence of the general trends of socio-economic 
changes in the respective regions and at the same time was based on the functional characteristics 
characteristic of development banks. The implementation of functions is based on priorities, 
which in turn are not rigidly static, but evolve according to the needs of the respective region. The 
article is devoted to the current state of regional development banks' activities in developing 
countries. 
The European Bank for Reconstruction and Development (EBRD) is a financial institution that 
provides an investment vehicle designed to support free enterprise and democratic values in 
developing countries. The EBRD's understanding of how a market economy works and its 
relationship with other international financial institutions have also enabled the Bank to play an 
important role in stabilizing the region and developing transition plans for economic recovery 
after the shock of the 2008 global financial crisis. Part of the Bank's response to this crisis was a 
significant and rapid increase in the volume of our operations. Of all the development banks, only 
the EBRD has a political mandate to provide assistance only to countries "committed to and 
implementing the principles of multi-party democracy, pluralism and market economy". 
Environmental principles and a commitment to sustainable energy are also central to the Bank's 
operations. 
The Asian Development Bank became the third Regional Development Bank after the Inter-
American Development Bank and the African Development Bank. According to its founding 
documents, the ADB's objectives are to promote economic development and promote economic 
cooperation among the states of the region. In order to achieve these goals, ADB has been 
entrusted with a number of functions: helping to attract private and public investments to the 
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