EBRD, Azerbaijani state organizations discuss cooperation in energy sector

Business Materials 17 June 2010 18:32 (UTC +04:00)

Azerbaijan, Baku, June 17 / Trend N. Ismayilova /

Senior Banker of the European Bank for Reconstruction and Development (EBRD) on the energy sector Laurent Chabrier visited Baku to expand ties with the energy sector of Azerbaijan, the Baku Office of the bank said.

His visit lasted two days - June 16-17. During the visit, meetings were held in Azerigaz, "Bakielektrikshebeke", SOCAR, Azerenerji, World Bank, Ministries of Finance, Economic Development to discuss prospects for cooperation in the energy sector.

In 2009, the Bank invested 230 million euros in the economy of Azerbaijan, of which 120 million euros was spent at financing the expansion project of Garadagh cement plant.

The Bank has financed 103 projects in the country worth $1.4 billion. Financial institutions, cooperating with the EBRD, received 69 lines of credit and investments in capital totaling $223 million from the bank.