Azerbaijan, EBRD mull expansion of co-op

Thu 07 September 2017 19:11 GMT | 23:11 Local Time

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Since the beginning of its cooperation with Azerbaijan, the European Bank for Reconstruction and Development (EBRD) has allocated $1.7 billion for implementation of 151 projects in the country, said Azerbaijan’s Minister of Economy Shahin Mustafayev.

He was addressing a meeting with EBRD President Suma Chakrabarti, who is currently on a visit in Baku, Trend reports.

Azerbaijan attaches great importance to cooperation with the EBRD, said Mustafayev.

He informed the EBRD president about recent reforms that have been implemented in Azerbaijan in various spheres of economy, especially those aimed at developing the private sector.

Chakrabarti, for his part, expressed satisfaction with his visit to Baku. He pointed out the importance of such visits for holding EBRD-Azerbaijan talks. The EBRD head also shared his opinions regarding the possibilities of expanding cooperation with Azerbaijan.

The sides also mulled financial support to the private sector, the Southern Gas Corridor project, transport infrastructure and a domestic waste management project.

Azerbaijan has been a member of EBRD since 1992.

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