BAKU, Azerbaijan, Dec.30
By Zeyni Jafarov – Trend:
In order to support the access of the real sector of the Azerbaijani economy to sustainable financial resources in the context of the coronavirus COVID-19,) pandemic, the European Bank for Reconstruction and Development (EBRD) and the Central Bank of Azerbaijan (CBA) signed an agreement in 2020 to conduct swap transactions totaling $200 million, Trend reports with reference to the CBA.
“The maximum limit for 2020 was set at $50 million. Today, active swap transactions with the EBDR make up $18.2 million,” CBA said.
Under the agreement, local companies gain access to the EBRD's financial resources in the national currency of Azerbaijan, and these funds are provided to local companies, especially organizations operating in small businesses and facing temporary difficulties.
The EBRD is the leading investor in Azerbaijan and has so far invested about 3.3 billion euro in various sectors: energy, infrastructure, banking, industry, and commerce. Moreover, the EBRD provides advisory services to small and medium-sized businesses.
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