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Azerbaijan ready to mull opening of AIIB office

Business Materials 19 December 2016 16:56 (UTC +04:00)
The Economy Ministry is ready to mull the opening of an office of the Asian Infrastructure Investment Bank (AIIB) in Azerbaijan after expansion of the bank’s activities in the country

Baku, Azerbaijan, Dec. 19

By Azad Hasanli – Trend:

The Economy Ministry is ready to mull the opening of an office of the Asian Infrastructure Investment Bank (AIIB) in Azerbaijan after expansion of the bank’s activities in the country, Ruslan Rustamli, head of the ministry’s department for cooperation with international organizations, told Trend.

This has also been done in the cooperation with other international financial institutions, such as the World Bank and the Asian Development Bank, according to him.

As for the cooperation with AIIB, Rustamli noted the Azerbaijani government is currently discussing a $600 million loan for the Trans Anatolian Pipeline (TANAP) project.

The AIIB Board of Directors is expected to hold an initial discussion on the loan for TANAP on Dec. 21, he added.

The AIIB’s goals include enhancing regional cooperation and integration capabilities, strengthening the economy, social and infrastructure development, improvement of living conditions in the bank’s member countries, as well as strengthening these countries’ resistance to external shocks and potential financial crises, Rustamli said.

“We are interested in working with the bank within our government programs, strategies, priorities and the new Strategic Road Maps for the national economy,” he added.

AIIB was founded in June 2015. Azerbaijan is one of the bank’s founding members.

Azerbaijan’s share in the AIIB capital is $254.1 million or 0.2844 percent.

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