Azerbaijan, Baku, July 24 /Trend A.Akhundov /
Preparation of a new partnership strategy of the Asian Development Bank (ADB) with Azerbaijani government was postponed for the next year, the head of the representative office of ADB in Azerbaijan Olly Norojono said at a press conference on Wednesday. Previously it has been supposed that the strategy will be adopted in 2013.
ADB's mission will arrive in Baku next week in order to develop a strategy that will cover 2014-2018. The mission's visit in Azerbaijan will last two weeks. During these two weeks the representatives of the mission will be holding meetings in country's government.
"We hope that the details of the strategy will be worked out in accordance with the results of the visit and from the beginning of next year we will begin official discussions of the document," Norojono said.
Under the new strategy, ADB can begin funding of new areas such as solid waste management, alternative and renewable sources of energy, modernization of railway transport and urban public transport.
At present the ADB has seven active projects in Azerbaijan. The current portfolio of the bank amounts to $990 million. Some 46 percent of the portfolio falls on transport sector, 16 percent - on energy sector, 36 percent - on city services, that is, the improvement of water supply, sewerage, and so on.
In 2012, the bank approved projects worth $250 million; all of them were in the public sector.
According to the updated business plan of the bank's operations in Azerbaijan for 2012-2014, the total amount of funding for approved ADB projects in Azerbaijan in this period will be $575 million. Projects approved under the business plan, as expected, demanded $250 million in 2012. Some $155 million is expected to be demanded for the projects in 2013 and some $170 million - in 2014.
During 2012-2014 the bank assumes to allocate $155 million annually out of the ordinary capital resources. In case of need, the possibilities of providing additional resources for funding and co-financing will be considered. The bank plans to allocate 3.25 million dollars within the technical assistance in 2012-2014.
Azerbaijan has been a member of the 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.
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).