OREANDA-NEWS. On April 17, 2008 it was declared in Baku by secretary general of GUAM Valery Chechalashvili. It was noted that creation of own bank at GUAM (Georgia, Ukraine, Azerbaijan and Moldova) has real prospects as the primary goal of this international organization is development of projects and cooperation programs.

"Thus the own bank is important for financing economic projects. So, corresponding negotiations are held within the frames of GUAM", Chechalashvili said. GUAM secretary general has noted that corresponding offers from the bankers of the region have already been received. Speaking on the possible founders of the bank, Chechalashvili noted, that different forms of cooperation are considered.

GUAM secretary general has also told that the final decision on creation of the bank will be accepted after Tbilisi summit which will be held late in June – early in July, 2008. It is planned, that GUAM bank will be similar to the Black Sea Bank of reconstruction and development.