Azerbaijan, Baku, Feb. 10 / Trend I. Khalilova /
The Asian Development Bank (ADB) has begun to study opportunities for funding urban transport development in Azerbaijan, the ADB Baku Office said.
According to the bank, an advisory mission of urban transport specialists Arnaud Dauphin and Bertrand Goalou has arrived in Baku. The experts are from the Urban Development and Water Division.
The visit will continue until Feb. 12.
The meetings are planned for the Transport Ministry, Azerbaijan Railways, and the Baku Metro.
"The ADB is ready to finance any sector in urban transport. But the priorities and needs of the government to assist the bank will be determined during the meetings," the office said.
At present, the ADB is implementing large projects on urban transport in Georgia.
Azerbaijan has been a member of the 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, the ADB has also provided grants worth $13.122 million to the Azerbaijani government and local companies.
The ADB is implementing projects in both the public and private sectors in energy, transport, and urban development.
The 67-member ADB was established in 1966. Its headquarters are in Manila. Azerbaijan joined the ADB in December 1999 and its share in the bank's capital is 0.5 percent.
The ADB's leading shareholders Japan and the United States (31.2 percent), India and China (12.8 percent), Australia, and South Korea and Canada (16 percent).