ADB interested in financing of infrastructure projects in Azerbaijan (PHOTO)

ADB interested in financing of infrastructure projects in Azerbaijan (PHOTO)

Azerbaijan, Baku, Dec. 10 /Trend A.Akhundov/

The Asian Development Bank (ADB) is interested in continuing the funding of infrastructure projects in Azerbaijan, new Director General of the Asian Development Bank for Central and West Asia Klaus Gerhauzer said during a meeting with chairman of Azersu (water operator of the country) Korkmaz Huseynov, Azersu said on Monday.

"ADB is interested in continuing financing infrastructure projects in Azerbaijan. Bank specialists have already begun work on preparing a new strategy for the country. Points of the concept of Azerbaijan 2020: a look into the future will be considered in the strategy, which will cover 2013-2018. The development of the water sector will also be reflected in the strategy," Gerhauzer said.

He noted that ADB also plans to provide assistance to Azersu in the application of know-how and training, the organization of courses in Azerbaijan by foreign experts.

Huseynov appreciated the participation of ADB in infrastructure projects taking place in Azerbaijan, and stressed the successful implementation of projects for rehabilitation of water and sewage systems in Agdash, Goychay and Beylagan. The preparation is being held for the start of the project in Agjabedi and Balaken.

Azerbaijan has been a member of the ADB since 1999. The ADB's active credit portfolio reaches $680 million.

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.

The ADB's leading shareholders are Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), and Australia, South Korea and Canada (16 percent).

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