ASIAN BANK OF DEVELOPMENT WILL ASSIGN 22 MLN USD TO AZERBAIJAN FOR THREE YEARS

Heads of the Asian Bank of Development - in accordance with renovated strategy of aid to Azerbaijan - plans to assign 22 mln USD within 2004-2006 years annually. However, the final amount of funds to be given to the Republic will be fixed later. The bank expresses hope that the government of Azerbaijan will spend the funds for poverty reduction. Azerbaijan joined the Asian Bank of Development in 1999 and since then, the ABD have realized 10 projects of technical assistance to Azerbaijan.