BAKU, Azerbaijan, February 7. The European Bank for Reconstruction and Development (EBRD) plans to sign investment contracts with three Azerbaijani banks in 2023, said Kamola Makhmudova, Head of EBRD in Azerbaijan, Trend reports.
"After a six-year pause, the EBRD has already concluded a major guarantee contact with Bank Respublika. This contract is one of the largest in the last 10 years and indicates a very strong economic recovery," she said.
"We believe that this will be one of many deals in the coming months, contributing to the further integration of Azerbaijani businesses into international markets. In addition, we are considering three more banks this year that will receive different financing instruments (support for SMEs, women's entrepreneurship, and trade finance).
The European Bank for Reconstruction and Development invested €86 million in nine projects in Azerbaijan. The expected portfolio of investment projects for the next three years will amount to $750 million, of which about $300 million will fall in 2023.