Asian Development Banks new three-year strategy and assistance program scheduled for 2007-2009 will be approved by ADBs Board of Directors by the end of 2006, Trend reports with reference to the Ministry of Economic Development. At the moment the Government is examining the comments to the strategy that ADB has submitted.
Officials of ADB Baku office told Trend on receipt of the response, the banks mission will be to visit Azerbaijan to identify funding of specific projects.
Today ADB is examining three promising areas, e.g. transport (roads rehabilitation); water, sewage, waste management and other systems improvement; alternative energy sources gas, clean energy.
ADB issued Azerbaijan credit to the amount of $104mln. Added to that Azerbaijan has subscribed for 0.448% stock in ADB and has a 0.67% vote in its Directors Board.
The current 2006 finance programme is in the amount of $187.5mln with the Banks priority in the Country being education, transport, water supply, sewage, renewable energy sources and regional development.