EBRD highlights significant increase in demand for its services in Azerbaijan

Business Materials 15 May 2014 16:47 (UTC +04:00)

Warsaw, Poland, May 15

By Emin Aliyev, Gulgiz Dadasheva - Trend:

Azerbaijani business interest in the activity of the European Bank for Reconstruction and Development (EBRD) has significantly increased, the head of EBRD Baku office Neil McCain told Trend on May 15.

"Our model of activity differs from that of other international financial institutions such as the IMF or the World Bank," he added. "The bank does not conduct a predefined investment portfolio for the year. We respond to the appeals and proposals submitted to the bank. I can say that we have invested more in the first four months of this year than in 2013."

The private sector traditionally shows a great interest in the possibilities of lending in the EBRD.

"The financial institutions are the most active ones," he said. "Moreover, we receive the proposals for participation in various infrastructure projects in Azerbaijan.

He added that the bank does not intend to shift the focus of activity in the country from support for the private sector.

EBRD has allocated about 1.8 billion euros for 146 projects in Azerbaijan since 1991 up until now. About a half of the funds were directed to the private sector.

edited by CN