Azernews.Az

The government of Azerbaijan is working to organize 48th annual meeting of the Asian Development Bank (ADB) in May 2015 at a high level, Finance Minister Samir Sharifov said during the 46th annual meeting of the Board of Governors on May 2-5 in Delhi.

"Azerbaijan, as a host country, will fulfill all of its obligations, and the country's experience in this area, infrastructure established in Baku in accordance with high standards as well as political stability fully allow for holding such important events," Sharifov was quoted as saying in a statement issued by the Ministry of Finance on Monday.

According to the report, the new ADB president Takehiko Nakao, who touched on the issues related to climate change, food security, support for developing countries, gender equality, regional integration, highlighted the development of private sector, environment, cooperation and integration as very important in terms of provision of all-round progress and growth in all countries of the region as the main call of ADB's strategy until 2020.

Heads of delegations represented in the Governing Council praised the work carried out by the ADB in 2012, noting the need for the issuance of loans for the development and provision of technical assistance to developing countries in the future as well.

During the visit, the Finance Minister also held a meeting with the Director of the Department of Strategy and Operations for Europe and Central Asia Laura Thus, the Vice-President of the Black Sea Trade and Development Bank Mustafa Baran and the Minister of Finance of Georgia Nodar Khaduri. During the meeting the sides discussed the current state and prospects of bilateral cooperation and development opportunities for joint projects.

The meeting with the ADB leadership also noted successful development of cooperation, evaluated existing loan portfolio and discussed projects implemented with the bank in the field of water, transportation and other infrastructures.

The annual meeting was attended by about 5.000 members, including ministers of the ADB member countries, heads of Central Banks, government officials, businessmen, representatives of international financial institutions and civil society, well-known scholars and experts.

Headquarters of the Asian Development Bank, which was established in 1966, is located in the Philippine capital Manila. ADB has 67 member-countries. Azerbaijan joined ADB on December 22, 1999.