ADB to seek new potential areas for co-op with Azerbaijan (PHOTO)
Baku, Azerbaijan, Nov. 15
By Anvar Mammadov - Trend:
The Asian Development Bank (ADB) intends to consider new potential areas for cooperation with Azerbaijan, Vice-President of the Asian Development Bank Wencai Zhang said at a briefing in Baku November 15.
“Along with the traditional areas which ADB has been financing in Azerbaijan within several years, the bank also plans to provide support for institutional reforms, as well as IT projects and projects in other fields,” he said.
"Rendering assistance in implementing the structural reforms will be one of the directions of the bank’s new three-year plan on Azerbaijan,” he added. “The plan will also cover such new areas of cooperation as vocational education, urban governance and development of alternative energy sources."
The business plan for 2017-2019 is expected to be approved in the next few weeks.
ADB, based in Manila, was established in 1966 and has 67 members. Azerbaijan became the organization’s member on Dec.22, 1999. The country has 0.5 percent share in the bank’s capital.
ADB’s portfolio in Azerbaijan is $2.8 billion.