Azerbaijan, Baku, Oct. 14 /Trend, N.Ismayilova/
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) is expected to approve the new strategy for Azerbaijan, which covers 2011-2013, in December, the EBRD Baku Office Head Francis Delaey said Thursday.
"The main goal of the strategy is to maintain investment in non-oil sector of Azerbaijan, develop the financial sector, which is also one of the pillars of the strategy. Also, the Bank will continue to support and join shareholders of banks and non-bank institutions," said Delaey.
In October, EBRD presented new strategy for Azerbaijan to discussions. According to the preliminary version of the strategy, posted on the EBRD official website, the bank will continue to support Azerbaijan in its efforts to implement reforms and improve the investment climate.
The EBRD invested a total of $232 million in nine Azerbaijani projects in 2009 and plans to sign 10 projects in Azerbaijan in 2010. The EBRD has invested 1.05 billion euros in Azerbaijan to realize 114 projects.
EBRD is a bank which assets are used to establish democracy and market economy in 30 countries of Central Europe and Central Asia. It is owned by 61 countries and two international organizations.