Middle East > Azerbaijan > ADB hails Baku’s preparation for Governors Board meeting

Azerbaijan: ADB hails Baku’s preparation for Governors Board meeting

2014/09/15

The Asian Development Bank (ADB) appreciates Azerbaijan\'s preparation for the annual conference of the Board of Governors scheduled for May 2015 in Baku.

ADB Secretary General Vuchung Um made the remark at a conference with Finance Minister Samir Sharifov on September 11.

He noted the successful economic development of Azerbaijan and expressed confidence that Baku will hold the event with dignity.

The annual conference will be attended by additional than 4,000 guests - ministers of the member nations of the bank, senior national and government officials, businessmen, representatives of international financial institutions and civil society.

Sharifov, for his part, noted that the process of training runs at the highest level and without delays in accordance with the plan.

He added that Azerbaijan, which will host the event, will fulfill all its tasks.

Later Azerbaijan\'s obligations due to the annual conference, technical issues were discussed and there was an exchange of views in connection with the expected visit of ADB President Takehiko Nakao to Azerbaijan this November.

ADB was established in 1966 and has 67 members. The company\'s headquarters is located in Manila, Philippines. Azerbaijan joined the ADB on December 22, 1999, the share of the bank\'s capital is 0.5 %. Active credit portfolio of ADB\'s country reached $1.2 billion.

ADB\'s leading shareholders are Japan and the South Korea and Canada (16 %), and others.

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