Baku, Azerbaijan, Jan.19
By Azad Hasanli - Trend:
In 2014, the European Bank for Reconstruction and Development (EBRD) has invested 238 million euros in 21 projects in Azerbaijan, the report of the bank posted on its website said.
For comparison, in 2013 the Bank allocated 163 million euros for the implementation of 17 projects in the country.
Since the beginning of cooperation with Azerbaijan, the EBRD has allocated $2.5 billion to finance 146 projects in various sectors of the economy. One of the main tasks of the EBRD is to ensure the stable development of Azerbaijan's non-oil sector by investing in small and medium private enterprises.
Azerbaijan is the largest recipient of EBRD funds in the Caucasus, as well as one of the largest in the CIS and Eastern Europe.
In particular, the bank allocated 214 million euros in 2014 for the implementation of 14 projects in Georgia, and 114 million euros for the implementation of 18 projects in Armenia.
The EBRD allocated 35 million euros for 19 projects in Kyrgyzstan, 12 million euros (7 projects) - in Turkmenistan, 62 million euros (11 projects) - in Tajikistan, 105 million euros (8 projects) - in Moldova, as well as 242 million euros for 12 projects in Belarus, according to the report.
The bank allocated a total of 8.9 billion euros (8.5 billion euros - in 2013) to finance 377 projects around the world, most funds of which were allocated for projects in Turkey, according to the report. The EBRD has allocated 1.39 billion euros for the implementation of 37 projects in Turkey during the reporting period.
The list of largest states recipients of funds of the EBRD in 2014, in addition to Turkey, included Ukraine (the bank has allocated 1.2 billion euros on the implementation of 36 projects), Poland (594 million euros - for 24 project), Egypt (593 million euros - for 15 projects), Romania (592 million euros - 26 projects) and Kazakhstan (576 million euros - 19 projects).
In addition, the Bank has sharply reduced investment in Russia from 1.8 billion euros (56 projects) in 2013 to 600 million euros (19 projects) in 2014. Despite this, Russia is still one of the largest recipients of funds from the bank.
Most of EBRD investments (2.8 billion euros) in 2014 fell on financial institutions, 2 billion euros on infrastructure projects, 2.3 billion euros on projects in the fields of industry, commerce and agriculture, as well as 1.7 billion euros on projects in the energy sector.
Edited by CN
Follow the author on Twitter: @AzadHasanli