2011 Annual Meeting of ADB to focus on Asia’s successful development by 2050

Business Materials 14 January 2011 14:28 (UTC +04:00)

Azerbaijan, Baku, Jan. 14 / Trend N.Ismayilova /

The Asian Development Bank (ADB) will hold its 44th Annual Meeting on May 3-6 2011 in Ha Noi, Viet Nam, the ADB reported.

Some 3,000 participants, including government leaders, central bank governors and finance ministers, as well as representatives from the private sector, academe, media and civil society are expected to attend the event at Ha Noi's National Convention Center.   

The 2011 Annual Meeting will focus on investment in Viet Nam, regional integration, infrastructure development and protecting the poorest through private sector growth. A major highlight of the meeting will be a discussion on what Asia needs to do to drive transformation, manage risks and sustain its success through 2050. The meeting will also include country presentations on Indonesia, Mongolia, Papua New Guinea, Bangladesh and Timor-Leste.

Economic Development Minister Shahin Mustafayev is the governor from Azerbaijan in the Bank and Finance Minister Samir Sharifov -alternative governor.  

Azerbaijan is a member of ADB since 1999. In early 2010, the credit portfolio across the country on 14 projects amounted to $660.4 million. During the period of cooperation, ADB has also provided grants totaling $ 13.122 million to the Azerbaijani government and local companies.

Headquartered in Manila, and established in 1966, ADB is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe. The share of Azerbaijan's participation in the bank's capital amounts to 0.5 percent.

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