EBRD to discuss prospects of co-operation with Azerbaijani commercial banks

Business Materials 21 April 2009 19:31 (UTC +04:00)

Azerbaijan, Baku, April 21 / Trend , N.Ismaylova /

The Director of Business Group on Financial Institutions of the European Bank for Reconstruction and Development (EBRD) Nick Tessiman will arrive in Baku on April 22 on a one day visit to discuss the prospects of cooperation with the Central Bank of Azerbaijan and a number of commercial banks in Azerbaijan, Azerbaijani representation of the EBRD said on April 21.

"During his visit, Tessiman will meet with the management of seven Azerbaijani banks, Central Bank, as well as with representatives of microfinance institutions in the country," the same source said.

The main goal of his visit to Azerbaijan will be to confirm readiness for further cooperation with financial institutions, as well as consideration of the capacity of expansion of the EBRD financing for the country's economy.

The European bank invested $114 million in 19 projects in Azerbaijan in 2008.The EBRD has implemented 90 projects and invested $1.2 billion in Azerbaijan thus far.

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