BAKU, Azerbaijan, January 20. The European Bank for Reconstruction and Development (EBRD) has started formal discussions with the Azerbaijan Caspian Shipping Company (ASCO) on expanding the marine fleet in the Caspian, Matteo Patrone, Managing Director, Eastern Europe and the Caucasus (EEC) at the EBRD, told Trend.
"We are conducting the due diligence, and negotiations are progressing. While it is still a bit premature to state the exact figure for this project, we aim to sign the relevant agreements before summer," he said.
According to the managing director, EBRD is very well placed to support commercialization efforts by state owned companies, and looks forward to expanding this agenda in Azerbaijan.
The EBRD is quite optimistic about future cooperation with Azerbaijan, be it in green finance, economic inclusion, sustainable infrastructure, or digitalization.
"So we are quite optimistic about our future cooperation with Azerbaijan, be it in green finance, economic inclusion, sustainable infrastructure, or digitalization. We will take all the above milestones into consideration while preparing our next country strategy for 2024-2029," Patrone concluded.