The Asian Development Bank will support the development of the insurance market in Azerbaijan, this was discussed during the meeting between the Azerbaijani Insurers Association (AIA) management and the Head of the Permanent Mission of the Asian Development Bank (ADB) in Azerbaijan Candice McDeigan, Azernews reported.

According to McDeigan, ADB will provide technical support to identify problems in the insurance market and find solutions to ensure further its development.

Elmar Mirsalayev, the AIA's Executive Director, stressed that the insurance sector is at a new stage of development, and there are several issues to be solved within the current market conditions.

As Azernews mentioned, Azerbaijan has been a member of the Asian Development Bank since 1999.

ADB forecasted 1.9% GDP growth in Azerbaijan's economy for 2021.