Astana to host 47th Annual Meeting of Asian Development Bank

May 2. Trend. Astana

By D.Mukhtarov

Astana to host 47th Annual Meeting of Asian Development BankKazakh delegation headed by the Minister of Economy and Budget Planning Yerbolat Dosayev (ADB Governor for the Republic of Kazakhstan) takes part in the annual meeting of the Board of Governors of the Asian Development Bank in Delhi (India), which runs on May 2-5, the press service of Kazakhstan’s Ministry of Economy and Budget Planning reported.

The economic, investment and tourism potential of Kazakhstan was presented during the session. Astana was chosen as a venue for the 47th Annual Meeting to be held on May 2-3, 2014 by unanimous vote of the Board of Governors of the ADB member countries.

The meeting is attended by ministers, officials, businessmen and representatives of international organizations and civil society, forming the policy of the Asian region.

Agenda of the meeting includes considering a report on the activities of the ADB in 2012, approval of the bank’s budget for 2013 and a working plan for 2013.

It is also planned to hold a number of bilateral meetings and negotiations with the leaders of the Asian Development Bank.

According to preliminary estimates, the Astana Meeting of ADB on “New Silk Roads – linking Asia and Europe; Asia and Europe in a Changing World” is expected to be attended by 3,500-5,000 participants, including managers from the ADB member countries, finance ministers, heads of major international banks and financial institutions and leading officials of the government, non-governmental and other organizations.

Currently, there is a new country strategy of the ADB Partnership for Kazakhstan for 2012-2016, which is a clear indication of strengthening economic cooperation between the Republic of Kazakhstan and ADB, aiming to support the diversification of the economy, transport, energy, urban development and small and medium-sized businesses.

One of the ABD major projects is “Reconstruction of the Western Europe – Western China international transit corridor”, which will significantly increase the traffic through the Kazakh part of the Western Europe – Western China international transit corridor, and thus increase the turnover of goods in transit. This, in turn, will greatly increase revenues of the budgets of all levels of the Republic of Kazakhstan.

Established in 1966, ABD consists of 67 members, including 48 from the region. ADB is focused on promoting economic growth in the Asia-Pacific region in the interests of all segments of the population, taking into account environmental sustainability and regional integration. The ADB Headquarters is located in Manila, Philippines.

Some $2.223 million worth of loans were provided to Kazakhstan since the start of its cooperation with ADB in 1994.