Baku, Azerbaijan, May 14
By Anvar Mammadov - Trend:
The European Bank for Reconstruction and Development has the needed amount of capital to fulfill its mandate and it is not going to increase it, the EBRD president said.
EBRD President Suma Chakrabarti made the remarks during the 24th Annual Meeting of the bank's Board of Governors.
He said that EBRD has determined three strategic priorities for itself: strengthening the sustainability of the transition process, assistance in integration, resolving global and regional problems of the countries.
Despite the difficult situation in the world, EBRD has doubled its investments in Ukraine and intensified its activities in Turkey, Kazakhstan, southern and eastern Mediterranean countries, according to Chakrabarti.
"The bank invested a total of 8.9 billion euros in 2014, which is almost 5 percent more than in 2013," he said.
The 24th annual meeting of the EBRD Board of Governors kicked off in Tbilisi May 14.
The meeting will focus on the investment issues and the bank's strategic activities in coming years.
Azerbaijan is represented at the meeting by the delegation led by Shahin Mustafayev, the country's minister of economy and industry and a member of the Board of Governors from the country.
The meeting of the EBRD Board of Governors will last until May 15.
Throughout the cooperation with Azerbaijan, EBRD has allocated 2.3 billion euros to the country for the implementation of around 160 projects. EBRD allocated 238 million euros worth loan to Azerbaijan for the implementation of 21 projects in 2014.
Edited by CN
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