BAKU, Azerbaijan, February 7. The European Bank for Reconstruction and Development (EBRD) invested 86 million euros in 9 projects in Azerbaijan in 2022, said EBRD Country Head for Azerbaijan, Kamola Makhmudova at the opening of the "IT Hub Azerbaijan" project, Trend reports.
"Some 71 percent of investments are aimed at the development of the country's green economy, renewable energy, the creation of sustainable infrastructure, as well as the telecommunications, media, and technology sector," she said.
Makhmudova said that, in general, the EBRD invested more than 3.5 billion euros in Azerbaijan.
Touching on the investments in the implementation of the IT Hub Azerbaijan project, she noted that the EBRD has provided technical support in the amount of $300,000.
"IT Hub Azerbaijan will help attract investment in the country's IT sector and will contribute to job creation and overall sustainable and inclusive economic growth," she said.