Executive Director of European Bank for Reconstruction and Development Visits Baku
Azerbaijan, Baku, 22 April / Trend corr. I.Khalilova / The European Bank for Reconstruction and Development (EBRD) is concentrating on measures to develop entrepreneurship and improve the business-climate in Azerbaijan, Manuel Sager, EBRD Executive Director, stated during his meeting with Heydar Babayev, the Azerbaijani Minister of Economic Development.
EBRD implements projects both in the state and in the private sectors in the country. Currently, EBRD is a shareholder with UniBank, AzerdemiryolBank and Azerbaijani Micro Financing Bank. Furthermore, EBRD opened credit facilities for a number of private banks.
EBRD is financing projects on the reconstruction of Hajikabul-Kurdamir and Baku-Samur highways, the rehabilitation of the thermal power plant in Azerbaijan, as well as the restoration and modernization of the railwayyard in the country. According to the Azerbaijani Minister, the Government is interested in expanding relations with the bank in the future. The issue to expand cooperation between the country and the bank was discussed during the meeting.
The EBRD Director invited the Azerbaijani Minister to participate in the annual meeting of the bank in Kiev on 18 and 19 May.
Sager reported on the bank's activities in 2007.
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