ADB to update business plan on operations in Azerbaijan till 2015

Azerbaijan, Baku, Oct. 3 /Trend A.Akhundov/

The ADB has approved business plan on operations in Azerbaijan for 2012-2014, the bank report, spread on Wednesday, says.

"The ADB work is managed by temporary operational strategy, country strategy and program updates. The latest update was approved in 2006. Business plan for 2011-2013, first for Azerbaijan, was approved in 2011. The new strategy of partnership with the country, which is now being developed, will be approved in 2013," the business plan, published on the website of ADB, reported.

The business plan for 2012-2014 is an updated version of previous plan.

"ADB operations will continue to focus on support to physical infrastructure, which is the government priority. The business plan priorities for 2012-2014 are transport sector, city services and development of private sector in accordance with government goals," the business plan stated.

The ADB is continuing dialogue with government on possibilities of further support in energy sector.

The document says Improved transport infrastructure will increase effectiveness and compatibility and strengthen relations in the region, covered by CAREC program (Central Asian Regional Economic Cooperation) and outside. The improvement effectiveness of energy and city services will strengthen country economy and life conditions.

The bank considers that participation of ADB in transport sector of Azerbaijan will have considerable additional profits for the poor and women.

"ADB assistance in water supply and sewage will improve life conditions, economic and city fields, will directly profit the populations, including the poor, IDP's and households, headed by women. The improvement will include reduction of deceases, transferred through water. Bank's expected involvement in city transport envisages effective transport decisions for all, including the poor, and mitigation of climate change," the document noted.

Azerbaijan is a member of ADB since 1999.

The ADB was established in 1966 and has 67 members. The headquarters of the bank is located in the capital of the Philippines, Manila. Azerbaijan became a member of the Asian Development Bank on December 22, 1999. The country's participation share in the bank's capital is 0.5 per cent.

Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent) are the ADB leading shareholders.

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