Plan strategy for ADB's business operations in Azerbaijan to be approved by end of April
Azerbaijan, Baku, April 19 /Trend, N.Ismayilova/
Asian Development Bank (ADB) expects to approve a new plan-strategy for the business activities in Azerbaijan by the end of this month, the head of ADB's Azerbaijan office Ollie Norojona said on Tuesday.
"We are now in the process of approving the plan-strategy, and have already clarified all the issues concerning the funding and scope of activities. The document was in the first review in late March, and is now at the stage of the second review, which is expected to be completed by the end of the week," said Norojona.
He said the Bank will continue to operate in the sectors of the economy, which are priorities - energy, transport and water.
ADB is implementing projects in both public and private sectors of Azerbaijan - in energy, transport, urban development. Azerbaijan joined ADB in 1999. Active loan portfolio of ADB in the country reaches $680 million. During the period of cooperation, ADB has provided to the Azerbaijani government and local companies grants totaling $13.122 million.