BAKU, Azerbaijan, March 19. The European Investment Bank (EIB) Global has been working with financial institutions in Azerbaijan with the aim of supporting private sector development, a source at the EIB told Trend.
According to the bank, the support is provided either directly, or through investment funds, providing debt and equity.
"We are exploring additional partnerships in the banking sector to support access to finance and contribute to the development of resilient and sustainable MSMEs," the source said.
At the same time, as the bank noted, the EIB Global is discussing possible areas of cooperation, including the potential projects described in the EU Economic and Investment, as well as in the EU Global Gateway initiative, with the Government of Azerbaijan and various relevant stakeholders.
Meanwhile, EIB Global – European Investment Bank’s development branch bearing on operations outside the EU.
The Bank operates under the framework of the European Neighborhood Policy (ENP), the Eastern Partnership (EaP) and other EU bilateral agreements. It has invested more than 96 million euros in the country. The current size of the active loan portfolio of the EIB in Azerbaijan is 26.2 million euros.