President of the National Bank of Georgia Received the Delegation of Asian Development Bank
09 November, 2005
At the meeting of the President of the National Bank of Georgia with the members of the delegation of the Asian Development Bank (ADB) the issue of Georgia’s integration into the above-mentioned financial institution was discussed. Other countries of South Caucasus region - Armenia and Azerbaijan are already the shareholders of the Asian Development Bank. The visit of the ADB delegation aims at getting the Georgian government familiar with the terms of its possible membership in the Asian Development Bank.
Established in 1966 the Asian Development Bank involves 63 member countries. The largest shareholders of the Bank are: USA, Japan, China, and India. The head office of the bank is situated in Manila (Philippines). 26 offices of the ADB are functioning in various countries of the world. More than 2 000 people from over 50 countries are employed in the ADB.
By the end of 2004, the total capital of the Asian Development Bank’s amounted to USD 54.2 million. At the same period of time the total value of 80 loans issued by the Bank for financing 64 projects amounted to USD 5.3 billion.
The members of the Asia Development Bank are: Azerbaijan (since 1999) and Armenia, which was admitted to membership in the mentioned financial institution several months ago.