Azerbaijan to Take Part in Establishment of Asian Bank of Infrastructure Investment

Azerbaijan will take part in a meeting of the founding countries of the Asian Bank of Infrastructure Investments (ABII), which will be held in Beijing on April 26-27.
The bank is established to develop industrial infrastructure (energy, transport, telecommunications, agriculture, water, environment and others) in Asia.

The Memorandum of Understanding on establishing the bank has 25 signatures.

The main engine of the new bank is China and developed countries of Asia. The authorized capital of the bank is $ 50 billion, a significant portion of which will come from Beijing.

Finance Minister Sharifov said at a press conference on Monday that the Azerbaijani delegation will participate in the inaugural meeting.

Sharifov also noted that the 48th annual meeting of the heads of the Asian Development Bank will be held in Baku at the scheduled time on May 2-5. It will bring together around 3,000 participants from 66 countries.  –0--

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