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Executive Director of Asian Bank of Development on Azerbaijan to Visit Geychay and Agdash Regions of Azerbaijan

Business Materials 28 June 2007 12:11 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I.Khalilova / Philip Bowen, the Executive Director of the Asian Bank of Development (ABD) on Azerbaijan will visit the Geychay and Agdash regions of Azerbaijan on 28 June.

The main aim of the visit to the regions is to keep abreast of implementation of projects on establishment of strengthening work along rivers and improvement of the drinking water supply, as well as sanitary services in these regions.

It will be the first visit of Bowen to Azerbaijan.

Bowen held meetings at the Azerbaijani Economic Ministry and departments.

Since 1999 the ABD has lent Azerbaijan $114mln, which makes Azerbaijan the 27th borrower of the bank.

Azerbaijan has a signed share of ABD of 0.448% and has 0.67% votes in the council.

ABD was formed in 1966 and has 67 members. The head-quarters of the bank are located in the Philippine capital of Manila. Azerbaijan united with ABD on 22 December 1999.

The leading shareholders of ABD are Japan and the United States (31.2% of total share capital), India and China (12.8%) and Australia, South Korea and Canada (16%).

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