Azerbaijan, Baku, August 19 / Trend I. Khalilova /
Azerbaijani representative in the EBRD's Directors Board, Werner Gruber plans to visit Azerbaijan for the first time as a director in September, EBRD Baku's representation said on August 19. Besides Azerbaijan, Werner represents interests of nine countries, including Switzerland, Turkey, Liechtenstein, Uzbekistan, Kyrgyzstan, Turkmenistan, Serbia and Montenegro.
"EBRD director's visit to Azerbaijan has diplomatic character. Date of the visit has not been specified. The visit is made once during a year and a half or two years, the representation said. The agreements are not expected to be signed within the visit. Discussions are not expected to be made within strategy of assistance for the country.
EBRD business-group director for South and Eastern Europe, Caucasus and Middle Asia, Olivier Descamps, has already arrived in Baku in April to confirm policy of long-term cooperation with the Azerbaijani government.
He appraised situation in Azerbaijan better than in neighboring countries of the region. It was achieved as a result of decisions adopted by Azerbaijan many years ago, including establishment of the State Oil Fund, optimization of oil and gas sector and creation of competitive banking sector.
According to his forecasts, as of late 2009, total volume of EBRD investments approved for Azerbaijan exceeds $1 billion. The bank invested $120 million in 19 different projects in Azerbaijan in 2008. But this volume will hit $220 million on 14-15 different projects in 2009.
Totally, EBRD realized 90 projects in Azerbaijan by investing $1.2 billion.
Do you have any feedback? Contact our journalist at: [email protected]