Baku, Azerbaijan, May 24
President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti.
The president congratulated Chakrabarti on the occasion of his re-election as the EBRD president. President Aliyev described Chakrabarti's re-election as recognition of his contributions, and wished him success in his activities.
President Aliyev expressed his confidence that long-term cooperation between Azerbaijan and EBRD would successfully continue even further.
Underlining Azerbaijan's interest in maintaining cooperation with EBRD, the president noted that this collaboration contributed to the implementation of a number of projects in the country.
Pointing to EBRD's investment in the private sector, President Aliyev hailed it as a proper assessment of the situation in this sector, and said these investments created additional financial opportunities for the development of the private sector.
President Aliyev expressed his hope that Chakrabarti's visit to Azerbaijan would be fruitful.
Chakrabarti thanked Azerbaijan for supporting his re-election as the EBRD president. He hailed the successful cooperation and strengthening partnership between EBRD and Azerbaijan. Chakrabarti noted that the investments in the private sector, particularly in the non-oil sector had been significantly raised in recent years.
The EBRD president praised economic reforms in Azerbaijan.
Saying the private sector accounted for 70 percent of the total volume of EBRD investment in Azerbaijan's economy, Chakrabarti noted that eight out of nine projects they funded were implemented in the non-oil sector.
The sides exchanged views on the development of cooperation in transport, energy, agriculture, private sector, entrepreneurship and a number of other fields.