BAKU, Azerbaijan, February 27. The European Bank for Reconstruction and Development (EBRD) is working on Azerbaijan's green finance projects, a source in the EBRD told Trend.
"The EBRD remains committed to financing Azerbaijani banks in various forms. At present, we are working on several projects in line with our core strategic priorities, such as promoting international trade, supporting SMEs, and providing green and inclusive financing. As part of these efforts, we actively aim to expand the number of our banking partners in 2024 and the subsequent period," emphasized the source.
"We are also working on supporting the growth of financial markets at the regional level while increasing our participation in trade finance. We also remain open to considering equity participation projects in financial institutions. However, working in this direction in any country entails a higher level of complexity due to objective reasons," the source pointed out.
Notably, the EBRD has been cooperating with Azerbaijan since 1992 and is the country's leading investor.
The loan portfolio of the EBRD projects in the country was estimated at 897 million euro as of December 31, 2023.
Overall, the bank has invested over 3.6 billion euro in Azerbaijan on 189 projects.