Baku, Azerbaijan, June 6
By Emin Aliyev -Trend:
The Asian Development Bank (ADB) is awaiting a response from the Azerbaijani government to the offer to provide technical support for the development of the country's railways, the Baku office of the bank told Trend.
"The proposal for railway investment program was presented for the second time last November, however no request from the relevant structures have been reported so far," the bank said.
The bank is ready to give a grant in the amount of $1million for the preparation of the program.
ADB has already performed similar proposal in 2010, but then the Azerbaijani side refused to attract the funds of the bank. At the same time, cooperation in the development of the railway network in the country remains a priority for the ADB, which is reflected in the strategy developed by the bank's activities in Azerbaijan.
Azerbaijan became an ADB member on December 22, 1999. The ADB active credit portfolio all over the country reached $ 1.2 billion.
ADB was founded in 1966 and has 67 members. The bank's headquarters is located in Manila, the capital of Philippines. Azerbaijan became an ADB member on December 22, 1999. The country's participation share in the bank's capital is 0.5 percent.
Leading ADB shareholders are Japan and the U.S. (31.2 percent of the total share capital), Indian and China (12.8 percent), Australia, South Korea and Canada (16 percent).
Edited by CN