EBRD preparing new strategy for Azerbaijan

Azerbaijan, Baku, Nov. 15 /Trend A.Akhundov /

The European Bank for Reconstruction and Development (EBRD) has started developing a new four-year strategy for Azerbaijan, the Azerbaijan head of EBRD Neal McCain told Trend on Thursday.

"We are developing a new four-year strategy for the country that will cover 2013 through 2016. Implementation has not yet begun," McCain said.

According to McCain, a delegation from London will arrive in Azerbaijan during the first quarter of 2013. They will discuss all issues of the new strategy not only with the government, but also with non-governmental organizations and other parties.

"The goal is to develop a new strategy that will assist Azerbaijan in economic development and diversification. Growth in the non-oil sector of Azerbaijan is very high, compared with the growth rate of the economy in general. We believe that the process of diversification is rather active," McCain said.

According to McCain, the strategy will focus on such private sector areas as industry, agriculture and finance.

"These segments are very interesting for our bank and there are a lot of potential projects. Currently, funds are being used for the country's import and this takes the place of long-term projects," McCain said.