ADB carries out outreach on financial management in Azerbaijan

On October 8-9, Xu Yi, Asian Development Bank's (ADB's) financial management specialist visited Azerbaijan to conduct outreach on ADB's financial management strengthening effort for ADB-funded projects, the bank said today.

He informed audit companies in Azerbaijan on ADB rules about conducting audit on ADB financed projects. The outreach also focused on public disclosure of audit information under ADB's public communication policy.

He met with such audit companies as Grant Thorton, Baker Tilly, Deloitte, BKR Ishik and also had a meeting at the Azerbaijani Finance Ministry.

The ADB was established in 1966 and has 67 members. The headquarters of the bank 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 percent.

Japan and the US (31.2 per cent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent) are the ADB leading shareholders.


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