A large group consisting of eight members of the Committee of Directors of EBRD (European Bank for Reconstruction and Development) is expected to arrive to Azerbaijan with a visit on October 23. According to EBRD`s Baku Representative Office, within the visit, they are expected to visit several Azerbaijani regions (Ganja, Massali, Lankaran, Shaki, Goychay), Trend reports.
Two days will be spent in Baku in order to meet representatives from private sector and the Government of the country. The main aim for the EBRD delegation's visit to Azerbaijan is to get acquainted with the situation in Azerbaijan, and they will visit the Azerbaijani regions for the same reason.
In the Azerbaijani regions, the EBRD delegation is expected to meet some of the companies and its clients. In addition, they will hold meetings with the main oil companies operating in the country, and some of their clients in the banking sector.
Notably, every 2-3 years, members of the EBRD Committee of Directors visit the countries where the bank works to get acquainted with the implementation of the projects and determine new ones that might be potentially financed by EBRD.
Increase in this year of EBRD portfolio for Azerbaijan is expected at the expense of EBRD credits to Azerenerji aimed at the reconstruction of AzDRES in Mingachavir and its other credit to Azerbaijan Railways aimed at forming a locomotive depot in the country.
During his visit to Baku in April, 2006, EBRD`s President Jean Limier said that this year, EBRD is about to invest more than в'¬300 m. to the implementation of Azerbaijani projects. EBRD`s portfolio to December 31, 2005 made up в'¬686 m. aimed at financing 30 projects.