Development of ADB's first strategy in Azerbaijan to complete in 2012

Business Materials 8 January 2011 14:15 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 /Trend, I.Khalilova/

By mid 2011, Asian Development Bank (ADB) plans to prepare a short-term business plan of activities in Azerbaijan, a source at the ADB Baku office said on Saturday.

"In the future we intend to build our business activities in Azerbaijan based on the strategy, the preparation of which is scheduled to be completed in 2012," the office said.

It will be designed for three years, and its realization can begin from next year.
Currently, the Government of Azerbaijan establishes cooperation with other international organizations based on strategy, ADB also plans to develop a strategy for Azerbaijan.
The bank is not going to change priorities in the country. ADB is implementing projects in both public and private sectors of the country in energy, transport, urban development. Asian Development Bank is particularly interested in lending to projects in the energy and transport sectors in the country.

This year the bank also plans to first conduct a review of the current ADB portfolio in Azerbaijan
Azerbaijan joined ADB in 1999. As of the beginning of 2010, the ADB credit portfolio on 14 projects in the country amounted to $660.4 million. During the period of cooperation, ADB has also provided grants totaling $13.122 million Azerbaijani government and local companies.