European Bank of Reconstruction and Development Announces Conditions for Participation in Privatization of Azerbaijani State Enterprises

Business Materials 13 February 2008 14:40 (UTC +04:00)

Azerbaijan, Baku, 13 February / Trend corr. I.Khalilova / The European Bank of Reconstruction and Development (EBRD) is prepared to participate in privatization of state enterprises and invest in the purchase of 30% of shares, Francis Deleay, the head of EBRD Baku representative, stated.

"EBRD has experience in reconstruction and improvement of state enterprises," Deleay said.

According to Deleay, the main attention during privatization process is paid to transparency of enterprise. EBRD is prepared to render technical assistance to the enterprise to carry out privatization reconstruction.

"We may invest and participate in the increase of capital, but EBRD pays more attention to participation in projects, which is justifying themselves from the financial point of view and provide return of investments," Deleay stated. Another advantage for strategic investors is that our participation attracts additional funds from other sources.

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