BAKU, Azerbaijan, August 24. The European Bank for Reconstruction and Development (EBRD) is ready to review country strategy for Azerbaijan, Nataly Mouravidze, Head of EBRD operations in Azerbaijan, told Trend.
"Azerbaijan is working on creating more opportunities for investors who want to tap into its rich natural resources, strategic location and a growing private sector. As outlined in the country’s vision for 2030, today’s Azerbaijan prioritizes market-oriented reforms, business-friendly governance and trade liberalization," she said.
According to Mouravidze, the EBRD's next country strategy will take all these tenets in consideration. The review period is approaching fast and the bank is already preparing to engage with authorities, clients and partners.
"What I can say with confidence at this stage is that diversification and greening of Azerbaijan’s economy and our efforts to expand local businesses’ access to finance are set to remain top priorities for our work in the country," she concluded.
Meanwhile, the loan portfolio of the EBRD projects in Azerbaijan has totaled 787 million euros as of July 31, 2023. The EBRD, the largest investor in Azerbaijan, has been working with the nation since 1992. A $750 million investment project portfolio is anticipated during the next three years. The bank expects to spend $300 million in a number of industries in 2023, including energy, transportation, the private sector, SMEs, and the banking industry.