ADB seeks opportunities for investing in Azerbaijan
Azerbaijan, Baku, Oct. 6 / Trend A. Akhundov /
The Asian Development Bank (ADB) seeks the opportunities to invest in the infrastructure and financial sectors of the country's economy within the business plan for operations in Azerbaijan in 2012-2014, the bank told Trend on Thursday.
"The ADB private sector operations department is seeking the opportunities to invest in the infrastructure and the financial sector," the bank said. "ADB will continue to support trade finance and funding of financial institutions and to examine the opportunities for investment in other areas of the private sector. This may include the projects on energy efficiency and environmental improvement, projects in strategic non-oil industries, gas sector (in particular, processing), transport, logistics, agribusiness."
According to the business plan, ADB assistance to the public sector will focus on transport, development of urban services and the private sector.
"ADB will continue conducting the dialogue in the energy sector," the office said. "Moreover, the bank continues working with the government in the social and financial sectors through consultations and technical assistance."
ADB will support the government's efforts to mitigate the climate change.
"ADB will also assist to expand the private sector development through technical assistance, gender mainstreaming (a comprehensive approach to the issue of equality between men and women) and regional cooperation - through projects," the bank said.
The business plan for operations in Azerbaijan in 2012-2014 was approved by the bank in September.
Azerbaijan is a member of ADB since 1999.
The ADB was established in 1966 and has 67 members. The headquarters of the bank is located in the capital of the Philippines, Manila. Azerbaijan became a member of the Asian Development Bank on December 22, 1999. The country's participation share in the bank's capital is 0.5 per cent.
Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent) are the ADB leading shareholders.