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Azerbaijani government invites ADB in implementation of new projects

06 May 2011 09:19 (UTC +04:00)

Azerbaijan has been represented at the meeting kicked off on May 3, by the delegation led by Finance Minister, member of ADBâ€™s Board of Governors Samir Sharifov.

Annual meetingâ€™s agenda includes discussion of annual report of ADB on 2010 and confirmation of financial outcomes of the conducted audit.
Moreover, the calls in front of Asian region, which became the leading strength of world economyâ€™s restoration during post-crisis period after the 2008-2009 global financial crisis, their ways of solution, as well as elimination of poverty in several regional countries, improvement of quality indicators of populationâ€™s living., providence of comprehensive economic growth, issue such as propaganda of integration processes between the regional countries and their financing were discussed at this yearâ€™s meeting of ADB.

Within the annual meeting, Azerbaijani delegation held several business meetings on May 4-5. That is, during the meeting with ADB President Haruhiko Kuroda, Kuroda expressed satisfaction from the level of existing relations between the Bank and Azerbaijan, at the same time, he noted that, the bank was ready to contribute to diversification of Azerbaijanâ€™s economy. Kuroda said that high economic indicators achieved by Azerbaijan recently were estimable.

In turn, Sharifov said that Azerbaijan paid great importance to cooperation with ADB and the country government was interested in development of this cooperation more. At the same time, he spoke about social economic policy carried out by Azerbaijanâ€™s government and invited ADB in financing of projects prepared in connection with improvement of water supply of regions, as well as implementation of several other projects.

During other meetings between Samir Sharifov and ADBâ€™s officials, current state of bankâ€™s projects implemented in Azerbaijan, future cooperation directions were discussed. Within the meeting, meetings were held also with the Vice President of the Japan International Cooperation Agency (JICA) Kiyoshi Kodera, Turkish Treasury Undersecretary Ibrahim Canakci, bilateral cooperation in finance sphere and joint activity opportunities between the two countries within international financial institutes were discussed during these meetings.

Remind that, Azerbaijan is member of ADB since 1999. Bankâ€™s loan portfolio on 14 projects realized in Azerbaijan made $660.4 mln. Moreover, during cooperation period, ADB granted made $660.4 mln. Moreover, during cooperation period, ADB granted $13.122 mln to Azerbaijani government and local companies.