Azerbaijan - ADB eye coop issues
Azerbaijani Minister of Economic Development Shahin Mustafayev met Executive Director of the Asian Development Bank (ADB) Anthony Baker on Sept.12, AzerTag state news agency reported.
They discussed the course of implementation of joints projects by Azerbaijan and the ADB.
They also exchanged views on priority fields to be included in the ADB Country Strategy for Azerbaijan.
Earlier, the ADB Baku office reported that the visit, which will last from Sept.9 to Sept. 16, will have an introductory character.
Baker has been recently appointed to the post, and represents Azerbaijan in the ADB Board of Directors.
Currently, ADB has seven active projects in Azerbaijan. Its current portfolio hits $990 million. Around 46 percent of the portfolio falls to the transport sector.
According to the bank's updated business plan on operations in Azerbaijan for 2012-2014, the total amount of funding for the ADB approved projects in Azerbaijan in this period will hit $575 million.
Azerbaijan is a member of the ADB since 1999. The country's share in the bank's capital is 0.5 percent.
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