Azernews.Az

By Nigar Orujova

Executive Director of the Asian Development Bank (ADB) Anthony Baker will visit Baku this week.

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.

"The exact program of the visit has not been confirmed yet, but it is expected that Mr.Baker will meet with Azerbaijan's Deputy Prime Minister Abid Sharifov, Minister of Finance Samir Sharifov, Minister of Economic Development Shahin Mustafayev, Minister of Transport Ziya Mammadov, and Chairman of Azersu JSC Gorkhmaz Huseynov. The visits to the country's regions are also possible," the office said.

Earlier, the Baku office reported that the ADB will complete a study of possibilities for introducing toll roads in Azerbaijan by September-October.

These studies are carried out in the frame of the first tranche of $200 million allocated by the ADB for reconstruction of the Masalli-Astara highway in late 2007 within multitranche project for road projects.

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.