OREANDA-NEWS. August 26, 2009. The Azerbaijani AGBank is prepared for cooperation  with the Asian Development  Bank (ADB).

Chairman of the AGBank Supervisory Board Chingiz Asadullayev, negotiations with ADB are kept on to raise financing.

"2 rounds of negotiations are conducted already, and the representatives of ADB have no questions which would impede cooperation.  We hope for positive completion of negotiations,” C. Asadullayev said.

Early August, the mission of the Asian Development Bank (ADB) on private sector development is was completed.

Donald Lambert, Risk Managament, a representative  of  risk management department, Pamela Bracey, a representative of operation department in private sector, Elisa Paterno, leading specialist on investments, were  in the structure of the mission.

The mission’s task is to discuss with  banks (the Bank of Baku, the Central Bank of Azerbaijan, the International Bank, the AGBank, the Access Bank),  as well as offices of the European Bank for Reconstruction and Development (EBRD) and the International Financial Corporation (IFC).

“The mission’s aim is to assess private commercial banks partnered with ADB, evaluate activity and coordinate with donor organizations on banking sector activities.