Societe Generale expects 2009 productive for investing in Azerbaijan's economy
Azerbaijan, Baku, July 9 / Trend , I.Khalilova /
By the end of 2009, the French corporate and investment bank Societe Generale does not expect to finance a large number of projects, and possibly closing one or two deals, the regional representative of the bank in Azerbaijan Teyba Guliyeva said on July 9.
"I hope that maybe not as active as the last year, but this year will be clearly productive," said Guliyeva.
She said that the portfolio of the bank today in Azerbaijan is about €400 million. A small part, about €100 million accounts for the banking sector and the rest - oil and gas sector and infrastructure projects.
"Today we have some infrastructure projects that are being discussed with the state-owned companies, and projects with the country's banking sector," said the representative.
"Economy of Azerbaijan in the region is the best example, and therefore, the whole banking world has shown great interest in the country, and all banks of the world continue to cooperate actively, said Guliyeva. - In Azerbaijan, economic indicators, all the basic economic moments are better than in neighboring countries".
Societe Generale has been operating in Azerbaijan since 1998 through its regional representative offices covering Azerbaijan, Georgia and Turkmenistan.
The bank successfully participated in several major strategic projects implemented in Azerbaijan, particularly projects on Azeri-Chirag-Gunashli full field development project, the construction of the Baku-Tbilisi-Ceyhan pipeline where Societe Generale acted as an underwriter of the leading organizer. Societe Generale acted as a joint leading organizer in the projects on Shah Deniz gas field development and the construction of the 570 MW powerstation in Sumgayit.
The BTC remains the bank's biggest investment project in Azerbaijan where its stake was $65mln in the total of $750mln.
Do you have feedback? Contact our journalist at: [email protected]