ADB to review possibility for new road projects in Azerbaijan

A delegation from the Asian Development Bank (ADB) will be in Baku from June 21 to 26 to check security issues relating to the on-going road projects in Azerbaijan, Baku office of the bank said on Thursday.

The delegation will check the fulfilment of the requirements for the resettlement, environmental and other issues in the framework of the road network development and maintenance of documentation for future projects and training.

They will also check the progress of projects under the multi-tranche finance packages In addition, the visit of the mission that will explore the possibility for new road projects in Azerbaijan.

The independent mission of the Asian Development Bank, which began its work in Azerbaijan on May 29, is preparing a report on the evaluation of projects financed by the bank.

The delegates held meetings at the Ministries of Economic Development and Transport, at Azeryolservis (construction and maintenance of roads), Azerenergy (production and distribution of electricity in Azerbaijan), Azersu (water operator of the country), Azerbaijan Railways and Irrigation and Water Management of Azerbaijan. The mission completed its work on June 5, when it held several meetings at the Garadagh Cement plant and also studied the ADB projects in Ganja.

Azerbaijan has been a member of the ADB since 1999. The bank's active credit portfolio reaches $680 million. ADB has allocated grants amounting to $13.122 million to the Azerbaijan government and local companies during the period of cooperation.

ADB was established in 1966 and has 67 members. Its headquarters is located in the capital of the Philippines, Manila. Azerbaijan became a member of the Asian Development Bank on December 22, 1999. The country's participation share in the bank's capital is 0.5 per cent.

Japan and the US which own 31.2 per cent of the total share capital, India and China with 12.8 per cent andAustralia, South Korea and Canada, having 16 per cent makes them ADB's leading shareholders.


/Trend/