Azerbaijan, Baku, Sept. 28 / Trend J. Nasibova /
The European Bank for Reconstruction and Development (EBRD) plans to expand cooperation with Azerbaijani financial institutions in various areas, the EBRD representative office in Azerbaijan told Trend today.
"Director for financial institutions in the Caucasus, Central Asia, Mongolia Mike Taylor will visit Azerbaijan on Oct. 10 to discuss the opportunities of expanding the cooperation," the representative office said.
Several meetings will be held with representatives of local financial institutions within the two-day visit. The prospects of developing the cooperation in the financial sector will be discussed.
EBRD strategy in Azerbaijan is aimed at encouraging small private enterprises, developing the banking sector and the non-oil sector of the economy.
At present, the EBRD has allocated over $1.5 billion to Azerbaijan to finance 120 projects in various sectors of economy.