BAKU, Azerbaijan, February 7. The anticipated portfolio of investment projects of the European Bank for Reconstruction and Development (EBRD) for the next three years is $750 million, EBRD Country Head for Azerbaijan Kamola Makhmudova told Trend.
"We plan to allocate nearly $300 million in energy, transport, the private sector, SMEs, and the banking sector, in 2023," she said.
Speaking of the transport sector, Makhmudova noted that the bank will make investments in the projects that will help Azerbaijan integrate the Middle Corridor to link Europe with Asia. Thus, EBRD projects focus on improving transport and logistics linkages – railroad transport, and transit through the Caspian and the Black Sea.
The European Bank for Reconstruction and Development (EBRD) invested 86 million euros in Azerbaijan's nine projects in 2022. A total of 71 percent was invested in the country's green economy, renewable energy, sustainable infrastructure, the telecommunications, media, and technology sectors. In the reporting period, the EBRD made a significant contribution to energy diversification in Azerbaijan.