Baku to host ADB's Board of Governors meeting in 2015
By Nazrin Gadimova
The Board of Governors of the Asian Development Bank (ADB) will meet in Baku on May 3-4, 2015, ADB's Resident Representative Olly Norojono said on December 19.
Ahead of this event, Norojono said, the capital of Azerbaijan may host various conferences, seminars and business forums.
"Some 67 countries are the members of the ADB and directors of all offices of the bank are invited to participate in the event," he said.
"We expect 3,000-4,000 participants. They will represent not only the bank, but also non-governmental organizations, civil society, private and public sectors."
Azerbaijani side will assume most of the costs in connection with the event under the terms of the memorandum of understanding signed between ADB and Azerbaijan in 2013. A special commission operates on preparations for the ADB Board of Governors.
The Manila-based ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
Established in 1966, it is owned by 67 members, including 48 from the region. In 2012, ADB assistance totaled $21.6 billion, including co-financing of $8.3 billion.
Azerbaijan's share in the bank's capital is 0.5 percent.