The National Action Plan of Azerbaijan, within the European Neighborhood Program (ENP), intensifies activities of the European Investment Bank in Azerbaijan. It is the most significant moment, the Deputy Foreign Minister of Azerbaijan, Mahmud Mammadguliyev informed Trend.
According to him, the participation of this Bank in the country has not been defined yet, but it is expected to involve the European Investment Bank in the investment projects. The topics of the future discussions are the amount and form of the participation of the Bank in Azerbaijan, the Minister said.
The expansion of the activities of the European Investment Bank is expected to take place particularly within the Memorandum of Understanding regarding strategic partnership in the energy sector, signed with the European Union at the beginning of November 2006.
The Memorandum envisages approaching the energy markets of Azerbaijan and European Union, modernizing the energy legislation, holding structural reforms, strengthening the security in the energy supply and transit system of the country and measures for energy and technical co-operation.