ADB to approve first strategy on operations in Azerbaijan in spring 2014
Baku, Azerbaijan, Feb.10
By Abbas Akhundov - Trend:
The Board of Directors of the Asian Development Bank (ADB) will consider the draft of the first strategy for operations in Azerbaijan in April 2014, head of ADB Baku office, Olli Norojono told Trend on Feb.10.
The time of consideration depends on how quickly the government completes discussion of the document, according to Norojono.
The consultations on the strategy which will cover 2014-2018 were held between the government and ADB in July, 2013.
The main direction of the strategy will include the traditional spheres of the bank's work in Azerbaijan covering transport, energy and municipal services.
Currently, the active ADB portfolio in Azerbaijan is around $1.2 billion.
Azerbaijan became a member of ADB on December 22, 1999. The bank was founded in 1966 and has 67 members. Its headquarters is located in Manila, the capital of Philippines. The country's share in the bank's capital is 0.5 percent.
Translated by L.Z.
Edited by S.M.