EBRD makes record level of investments in Azerbaijani economy in 2012
Azerbaijan, Baku, Dec. 6 / Trend A. Akhundov /
A record for level of investment funding from the European Bank for Reconstruction and Development (EBRD) in the private sector of the Azerbaijani economy was set in 2012, head of the EBRD office in Azerbaijan Neal McCain told the media on Thursday.
"In 2012, the bank financed 15 projects in the private sector to the amount of $100 million (78 million euros)," he said. "This is a record number of projects and funding amount. EBRD may participate in three more projects by late 2012."
He said that the bank has participated in 127 projects in Azerbaijan over the past 20 years. Around 115 of these projects were carried out in the private sector.
"The bank's budget for Azerbaijan is around two billion euros, the current portfolio - 692 million euros," he said. "Thus, the EBRD is the largest investor in the non-oil sector of the Azerbaijani economy."