Baku, Azerbaijan, Nov. 16
By Sara Israfilbayova – Trend:
Local currency bonds issue in Azerbaijan remains one of EBRD objectives, head of the EBRD Resident Office in Baku Ivana Duarte told Trend.
She underlined the need to follow the market as there are many external factors that influence the decision.
“There is no time frame for this. We also continue our discussions with relevant authorities,” Duarte stressed.
EBRD announced its intention to issue manat bonds in Azerbaijan in 2016. In late 2017, EBRD allocated the first corporate loan for Azerbaijan in manats. The loan was allocated for METAK, the producer of plastic and metal pipes. The loan amounted to eight million euros in manat equivalent.
Azerbaijan has been cooperating with EBRD since 1992. Since then, the bank has invested more than $3 billion in 168 projects in the financial, corporate, infrastructure and energy sectors in Azerbaijan.
A quarter of the EBRD investments accounts for the private sector.