EBRD to familiarize with Azerbaijan's transition to market economy
Azerbaijan, Baku, May 21 / Trend N. Ismayilova /
A delegation of the European Bank for Reconstruction and Development (EBRD), which will comprise representatives of the board of directors, will visit Azerbaijan May 31 - June 4, the bank's Baku office said.
The delegation includes Kurt Bayer, Werner Gruber, Pedro Moriyón, Simon Ray, Ib Katznelson, João Cravinho, Tae Hwan Kim, Virginia Gheorghiu, Stefka Slavova.
"The main purpose of the delegation of the EBRD Board of Directors' visit to Azerbaijan is to introduce the process of transition to a market economy and the EBRD's role in this process," the office said.
During the visit, it is expected to conduct meetings with partners of the bank, the organizations, state agencies with which the Bank is cooperating.
EBRD Board of Directors conducts such missions in each member country included in the zone of operations of the bank every 3-4 years. A mission visited Azerbaijan in 2007 last time.
In 2009, the Bank invested 230 million euros in Azerbaijani economy, of which 120 million euros was directed to finance expansion of Garadagh cement plant.
The Bank has financed 103 projects worth $1.4 billion. Financial institutions cooperating with the EBRD, received 69 lines of credit and investments totaling $223 million from the bank.