Azerbaijan, Baku, 7 February / corr. Trend I. Khalilova/ The European Investment Bank (EIB) and the Azerbaijani Government will sign a framework agreement in April on cooperation to regulate the operations of the bank in the country, Asgar Alakbarov, the head of the Investment Policy Department of the Ministry of Economic Development of Azerbaijan said.
"The coordination process took us almost a year during which the comments and opinions of various organizations were studied," Alakbarov said.
The last draft of the agreement was discussed with the bank two weeks ago in Baku, now the remarks of Azerbaijani side will be summarized for them.
A similar agreement was signed and ratified by the Georgian parliament in summer 2007.
The role of the European Bank of Development and Reconstruction (EBRD) in cooperation with EIB is to estimate the project, but the budget will be invested by the investment bank.
EIB is planning to finance the project at the expense of the European Union within the framework of the European Neighbourhood Policy, so the attention will be focused on the regional projects. "
EBRD and EIB announced its joint investments to Russia, Ukraine, Moldova, South Caucasus countries and Middle Asia. The EU's Council is ready to allocate €3.7bln to 2013 within the framework of the joint financing program.