Baku, Azerbaijan, May 21
By Sara Israfilbayova – Trend:
The Asian Development Bank (ADB) will support Azerbaijan in its further effort to diversify the economy, Ingrid van Wees, Vice-President for Finance and Risk Management at ADB, told Trend at a regional public debt management forum in Baku.
"We are ready to support Azerbaijan in the development of various areas of the non-oil sector. Our bank has established an excellent cooperation with Azerbaijan. Since Azerbaijan joined the ADB, the bank has approved about $4.9 billion in loans, guarantees, grants and technical assistance to Azerbaijan," van Wees said.
The Vice-President noted that the Bank mainly invested in such areas of Azerbaijan as transport, energy, infrastructure and private sector development.
Azerbaijan became an ADB member on December 22, 1999, and its share in the bank is 0.5 percent.
ADB was founded in 1966 and has 67 member states, including 48 regional and 19 non-regional countries. The bank’s headquarters is located in Manila, Philippines.
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