Azerbaijan, Baku, Feb. 18 / Trend N. Ismayilova /
At present, the Asian Development Bank (ADB) invested about $600-700 million in Azerbaijani economy, ADB representative in Azerbaijan Olly Norojono said during the Business Forum of the Caspian and European Integration Business Club (CEIBC), which focused on the possible realization of international investment projects in Azerbaijan.
The ADB provided $11,5 million to Azerbaijan in the form of grant assistance from 1999-2009.
"The Asian Development Bank allocated grants worth $1.11 billion to finance 92 projects in the world in 2009. It also provided the loans worth $13.23 billion and $267.2 million for technical assistance", the bank representative said.
He said that the ADB determined five priority areas - infrastructure development, environment, financial sector development, education and regional cooperation for the next ten years.
"The priority areas of the ADB investment in Azerbaijan are the sphere of transport, urban infrastructure, energy sector, the banking sector (trade financing) and the industry," he said.
The 67-member ADB was established in 1966. Its headquarters are located in Manila in the Philippines. 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).