Azerbaijan, Asian Development Bank sign MoU

Baku, February 19 (AZERTAC). Azerbaijan and Asian Development Bank have signed a memorandum of understanding that will see Baku host the 48th annual meeting of the bank`s Board of Governors. 

The memorandum was signed as part of the visit of Azerbaijan`s Finance Minister Samir Sharifov to Manila, Philippines.

The agreement will allow holding the annual meeting of Board of Governors of ADB in Baku on May 3-5, 2015.

In Manila, Sharifov met ADB officials to discuss bilateral cooperation.

ADB President Haruhiko Kuroda said Azerbaijan, one of the Bank`s shareholders, was an active participant in it`s projects.

Sharifov noted Azerbaijan attached great importance to cooperation with ADB.

Sharifov met ADB Vice-Presidents Xiaoyu Zhao and Lakshmi Venkatachalam, Secretary Robert Dawson and Australian Executive Director Richard Sisson.

They discussed preparation for the Baku meeting, as well as transport, energy, infrastructure, water supply, sanitation and future cooperation priorities.

Since its founding in 1966, ADB has been driven by an inspiration and dedication to improving people’s lives in Asia and the Pacific. By targeting our investments wisely, in partnership with our developing member countries and other stakeholders, we can alleviate poverty and help create a world in which everyone can share in the benefits of sustained and inclusive growth.


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