Azerbaijan, Baku, 22 November / Trend , corr. U.Usmayilova /"Despite of intensification of the global financial crisis, the Asian Development Bank (ADB) did not suspend the implementation of investment programs in bank's member-countries," Vice President of ADB Xiaoyu Zhao said in Baku.
"However, taking into consideration the current situation we reconsider all our plans and projects to make them more efficient," the Vice President said.
The Ministry's conference on the Central Asia Regional Economic Cooperation (CAREC) program, which was held in Baku, is held in right time, during the global financial crisis.
"The global financial crisis became more active, and it will affect every country during globalization. Nobody could avoid crisis's influence. I think a single strategy should be developed with approach to every country in order to overcome the crisis," Zhao said.
For this purpose, ADB chose priority directions in the region. They are transport and energy sectors, which bank intends to connect with each other.
Vice President of ADB Xiaoyu Zhao heads the department on the South Asia, Central and West Asia and on operations in the private sector.
ADB cooperates with the Azerbaijani Government since 1999. Bank approved $304mln credits to Azerbaijan under state guarantee.
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