ADB hails Baku’s preparation for Governors Board meeting
By Amina Nazarli
The Asian Development Bank (ADB) appreciates Azerbaijan's preparation for the annual meeting of the Board of Governors scheduled for May 2015 in Baku.
ADB Secretary General Vuchung Um made the remark at a meeting with Finance Minister Samir Sharifov on September 11.
He noted the successful economic development of Azerbaijan and expressed confidence that Baku will hold the event with dignity.
The annual meeting will be attended by more than 4,000 guests - ministers of the member countries of the bank, senior state and government officials, businessmen, representatives of international financial institutions and civil society.
Sharifov, for his part, noted that the process of training runs at the highest level and without delays in accordance with the plan.
He added that Azerbaijan, which will host the event, will fulfill all its tasks.
Later Azerbaijan's obligations due to the annual meeting, technical issues were discussed and there was an exchange of views in connection with the expected visit of ADB President Takehiko Nakao to Azerbaijan this November.
ADB was established in 1966 and has 67 members. The company's headquarters is located in Manila, Philippines. Azerbaijan joined the ADB on December 22, 1999, the share of the bank's capital is 0.5 percent. Active credit portfolio of ADB's country reached $1.2 billion.
ADB's leading shareholders are Japan and the United States (31.2 percent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent), and others.