Baku, Azerbaijan, Nov. 16
By Sara Israfilbayova – Trend:
The European Bank for Reconstruction and Development (EBRD) is preparing a new country strategy for Azerbaijan and consultations with relevant authorities are underway, head of the bank’s resident office in Baku, Ivana Duarte, told Trend.
She noted that the strategy development is planned to be completed next year, adding that the bank representatives will comment on new priorities as they are agreed.
EBRD adopted the 2014-2017 strategy for Azerbaijan on April 30, 2014. The strategy was meant to analyze the country’s progress in political and economic transition and outlined the bank’s priorities in Azerbaijan over these years.
These priorities were the economic diversification, the development of a sustainable financial sector that is able to support the private sector's growth, as well as rural and regional development.
Azerbaijan has been cooperating with 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. A quarter of investments accounts for the private sector.