Azerbaijan, Baku / Тrend corr I. Khalilova / The European Bank for Reconstruction and Development (EBRD) is ready to boost institutional improvement of Azerbaijan's banking sector in the following two years, according to the EBRD strategy on Azerbaijan for 2007-08 which was publicized on 28 September. Azerbaijan's competitiveness is planned to be improved through financing, introduction of international standards of corporate governing, and improvement of transparency in financial accountancy.
EBRD also intends to increase its support to Azerbaijan's micro-financial institutions via credit lines and technical assistance.
EBRD cooperating with 7 or 8 banks will proceed with implementation of insurance and leasing projects.
By 30 June 2007 EBRD allocated €482.4mln for implementation of 61 projects in Azerbaijan.