Azerbaijan, Baku, Oct.25 / Trend /
Today, Asian Development Bank (ADB) launched a workshop on ADB's ordinary capital resources (OCR) loan features, accounting, and servicing, the ADB said in its press release on Tuesday.
Different from commercial banks, ADB has some unique loan accounting and servicing procedures and practices. The workshop will familiarize the borrowers about OCR for better loan administration.
About 30 participants from the Ministry of Finance and executing agencies participate in the workshop. During the workshop, participants will also be trained on the use of the Enhanced Calculator for Loan Accounting and Servicing. The newly developed Loan Accounting and Servicing Website of ADB will be introduced to the workshop participants as well.
During his introductory remarks, Olly Norojono, the ADB's Resident Representative, said: "This is the first time that ADB conducts loan accounting and servicing workshop for Azerbaijan borrowers and executing agencies. To respond to borrowers' demand for new loan products that can meet their needs to tailor loan terms, ADB has offered LIBOR-based loan (LBL) product since 2001 and enhanced loan terms continuously. We hope that the workshop will enable borrowers fully understand loan features when borrowing OCR loans from ADB for better managing the debt".
The workshop will end on Oct. 27.
ADB's vision is "An Asia and Pacific Region free of poverty". ADB's mission is to help its developing member countries reduce poverty and improve living conditions and quality of life. ADB is a strongly capitalized, multilateral development bank, dedicated to reducing poverty in Asia and the Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration.
ADB was established in 1966. As of Dec.31, 2010, ADB had 67 members, of which 48 were drawn from Asia and the Pacific region.
ADB is headquartered in Manila, Philippines and has offices worldwide including representative offices in North America (Washington, DC), Europe (Frankfurt), and Japan (Tokyo).