AZERBAIJANI MINISTER OF ECONOMIC DEVELOPMENT MEETS WITH ADB EXECUTIVE DIRECTOR
Azerbaijani Minister of Economic Development Heydar Babayev has met with Patrick Pillon, Executive Director of Asian Development Bank (ADB).
Mr. Babayev told of successful development of Azerbaijan economy. Minister noted that the government of Azerbaijan is keen to cooperate with the international financial structures, including ADB. He underlined that the large-scale projects, particularly in the non-oil sector are implemented in the country with the support of the international financial institutions.
Mr. Pillon highly valued the rapid development of Azerbaijan economy, including the business sector and the large-scale building works. He also expressed his satisfaction with the work of the State Oil Fund of Azerbaijan (SOFAZ). Executive Director underlined that in 2007, ADB loaned US $ 10,7 bln, of which 1,7 bln have been invested in the private sector. Mr. Pillon underlined that the leadership of the Asian Development Bank is ready to render any assistance to Azerbaijan.
Mr. Pillon invited Mr. Heydar Babayev to attend the ADB’s annual meeting, which is to take place in Spain, in May.
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