Azerbaijan, ADB discuss joint projects
Azerbaijan, Baku, Dec. 10 /Trend A.Akhundov/
The implementation of joint projects was discussed during the meeting between Minister of Finance Samir Sharifov and Director General of the Asian Development Bank for Central and West Asia Klaus Gerhauzer in Baku on Monday, the Ministry of Finance said.
The parties discussed various areas of cooperation, including projects in the fields of power generation, creation of road transport infrastructure, creation and restoration of water supply and sanitation.
The sides also exchanged views on the upcoming five-year (2013-2018) strategy of the Bank for the country.
Gerhauzera noted that ADB is interested in continuing the financing of infrastructure projects in Azerbaijan.
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).