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Delegation of European Investment Bank to visit Azerbaijan

Economy Materials 26 September 2018 09:29
The European Investment Bank (EIB) may provide financial support for the construction and reconstruction of roads and railways in Azerbaijan
Delegation of European Investment Bank to visit Azerbaijan

Baku, Azerbaijan, Sept. 26

Trend:

The European Investment Bank (EIB) may provide financial support for the construction and reconstruction of roads and railways in Azerbaijan, EIB Vice President Vazil Hudak said Sept. 25 at a meeting with Azerbaijan’s Economy Minister Shahin Mustafayev, the economy ministry said in a message.

During the meeting it was noted that in 2013 Azerbaijan and the EIB signed a framework agreement. It was said that the bank took part in the financing of TANAP and TAP projects, and allocated loans to Azerbaijani banks as part of cooperation with the private sector.

Mustafayev said that the Agency for the Development of Small and Medium-Sized Enterprises (SME) was created in Azerbaijan in order to support SMEs, and noted the possibility of considering cooperation with the bank in this area.

In addition, it was noted that cooperation with the bank is possible in the areas of direct financing of private sector projects, implementation of infrastructure projects, alternative energy, waste management and restoration of lakes on Absheron Peninsula.

The vice president of the bank said that the EIB provides not only financial support, but also conducts examination, provides technical and consulting services.

The representative of the bank also spoke about the possibility of cooperation in the areas of alternative energy, clearing lakes, supporting the private sector, especially SMEs, and about the opportunities for cooperation of the Agency for the Development of SMEs with Azerbaijan’s Entrepreneurship Development Fund.

Hudak added that the EIB delegation will visit Azerbaijan in October.

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