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Minister: Azerbaijan has great potential to diversify EBRD portfolio (PHOTO)

Business Materials 10 April 2013 14:05 (UTC +04:00)
The European Bank for Reconstruction and Development (EBRD) has allocated $2.1 billion to fund 117 projects in Azerbaijan since the start of cooperation with the country, according to a report of the Ministry of Economic Development of Azerbaijan.
Minister: Azerbaijan has great potential to diversify EBRD portfolio (PHOTO)

Azerbaijan, Baku, April 10 / Trend /

The European Bank for Reconstruction and Development (EBRD) has allocated $2.1 billion to fund 117 projects in Azerbaijan since the start of cooperation with the country, according to a report of the Ministry of Economic Development of Azerbaijan.

At a meeting with members of the EBRD board of directors, the Minister of Economic Development Shahin Mustafayev said Azerbaijan has great potential to diversify the bank's loan portfolio.

The minister noted the importance of the bank's experience in supporting the agricultural and industrial parks and invited the bank to direct financing of private enterprises and the expansion of participation in share capital.

"This is the second visit of members of the Advisory Board of Directors of the bank in Azerbaijan, which is an indicator of successful cooperation between the bank and the country," Mustafaev said and added he appreciated the support provided by the Bank in the development of the public and private sectors.

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