ADB announces forecast of economic development in Azerbaijan

Baku. 15 November.REPORT.AZ/ "The Asian Development Bank (ADB) forecasts that this year gross domestic product (GDP) will grow by 2.5% in Azerbaijan. Forecast by the International Monetary Fund (IMF) on economic development states 2-4%.

Report informs, the Asian Development Bank (ADB) Vice-President Wencai Zhang told reporters.

He said that the ADB can provide aid to Azerbaijan to eliminate the problems in certain areas: "Currently, we discuss the area to allocate financial assistance and the amount."

ADB official said that the Board of Directors (BoD) was applied to allocate 500 mln USD: "This funds will be mainly spent on diversification of the economy. The BoD will review the proposal in the middle of December. However, the exact date will be known next week."