Baku, Azerbaijan, Sept.12
By Zulfiyya Kurbanova - Trend:
The Asian Development Bank (ADB) appreciates Azerbaijan's preparation for the annual meeting of the Board of Governors to be held in Baku in May 2015, Secretary General of ADB Vuchung Um said during a meeting with the Minister of Finance Samir Sharifov Sept.11.
Secretary General noted the successful economic development of Azerbaijan and expressed confidence that Baku will hold the event with dignity.
It was noted that the annual meeting will be attended by more than 4,000 guests - ministers of the member countries of the bank, senior state and government officials, businessmen, representatives of international financial institutions and civil society.
Sharifov noted that the process of training runs at the highest level and without delays in accordance with the plan. He added that Azerbaijan, which will host the event, will fulfill all its tasks.
During the meeting Azerbaijan's obligations due to the annual meeting, technical issues were discussed and there was an exchange of views in connection with the expected visit of ADB President Takehiko Nakao to Azerbaijan in November this year.
ADB was established in 1966 and has 67 members. The company's headquarters is located in Manila, Philippines. Azerbaijan joined the ADB on December 22, 1999, the share of the bank's capital is 0.5 percent. Active credit portfolio of ADB's country reached $1.2 billion.
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), and so on.