Azerbaijan, Baku, Oct. 15 / Trend N.Ismayilova /
The European Bank for Reconstruction and Development (EBRD) plans to provide loans to three Azerbaijani banks by late 2010, EBRD Baku Office Head Francis Delaey said on Friday.
"We do not expect any investments in the banks' share capitals by late 2010. However, issue of granting loans to three Azerbaijani banks- EBRD partner bank is under discussion," he said.
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 the implementation of 114 projects in Azerbaijan. A total amount of 5.6 billion euros was allocated. The current portfolio of the bank now hits 663 million euros, 69 percent of which have been already mastered. Moreover, about 283.4 million euros have been paid off.
EBRD is a bank, assets of which 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.
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