EBRD announces amount of investments in Azerbaijani economy in 2010
Azerbaijan, Baku, October 12 / Trend N. Ismayilova /
The European Bank for Reconstruction and Development (EBRD) plans to invest in Azerbaijani economy over $200 million in 2010, head of EBRD representation in Azerbaijan Francis Daley, said on October 12.
"The bank plans to finance a large project in corporative sector and 10 in financial one in 2010," Daley said.
He said that about 50 percent of the bank's projects cover energy sector, 25 percent - financial, 9 percent is connected with banks, 6 percent - with micro-financial institutes, 3 percent - non-bank loan organizations and 5 percent - corporative sector.
"The bank invests in Azerbaijani economy over $200 million in 2009 and the same amount is envisaged for 2010," Daley said.
Presently, the bank's portfolio hits $911 million. The bank invested in realization of 19 Azerbaijani projects about $114 million in 2008. EBRD implemented 90 projects in Azerbaijan by investing $1.5 billion given drawing of financing from other commercial banks.
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