Baku, Azerbaijan, Dec.23
By Azad Hasanli - Trend:
The Asian Development Bank (ADB) plans to expand cooperation with the private sector, the head of the Baku office of ADB Olly Norojono told reporters Dec.21.
Norojono said that until 2020, the bank plans to increase the share of private sector operations to 50 percent of the total volume.
In 2013, the volume of operations of the Asian Development Bank in the member states amounted to $21 billion, of which private sector financing had $4 billion, which accounts for about 20 percent of the total transactions volume.
"Cooperation with the private sector in each country depends on local conditions," he said. "In particular, the volume of transactions in the private sector of Azerbaijan is relatively less."
ADB plans to further cooperate with Azerbaijani banks, finance loan programs, etc, the head of the office of bank said.
In general, currently the bank reviews its activity in partner countries and plans to pay more attention to inclusive economic development, according to Norojono.
"This means that we will pay more attention to infrastructure projects, their stability, regional cooperation and integration, more closely monitor the issue of climate change and the environment, etc.," he said.
ADB was established in 1966 and has 67 members. The bank's headquarters is located in the capital of the Philippines, Manila. Azerbaijan joined ADB on December 22, 1999.
The country's share in the bank's capital is 0.5 percent. ADB's leading shareholders are Japan and the United States (31.2 percent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent).
Currently, the active portfolio of the bank on Azerbaijan is $1,224 billion.
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