EBRD reveals volume of loans to Azerbaijan in 2018 (Exclusive)

Business Materials 16 November 2018 17:05 (UTC +04:00)

Baku, Azerbaijan, Nov.16

By Sara Israfilbayova – Trend:

EBRD has a very good level of cooperation in Azerbaijan, thus, in 2018 the Bank has invested close to 300 million euros in 5 projects, head of the EBRD's (European Bank for Reconstruction and Development) Resident Office in Baku Ivana Duarte told Trend.

Duarte noted that last year the Bank had a very intensive policy dialogue, especially during the visit of EBRD President Suma Chakrabarti to Baku.

“We had a chance to discuss a variety of issues from the banking sector situation to renewables and from human rights to SME support,” she said, further adding that in 2018 the EBRD continued the policy dialogue discussions with authorities, with a special focus on enabling environment for development of renewable energy.

Answering the question on which sector the EBRD regards as a priority for investing, Duarte stressed that EBRD is ready to look at bankable project across a variety of sectors.

“We are focusing on financing of private sector, looking at opportunities in manufacturing and services, agribusiness, transport, tourism and energy sectors as well as financial sector,” the head of the Resident Office explained.

Azerbaijan has been cooperating with the EBRD since 1992. Since then, the bank has invested more than $3.18 billion in 168 projects in the financial, corporate, infrastructure and energy sectors of Azerbaijan.

At the same time, a quarter of investments accounts for the private sector.