EBRD specifies priority areas for cooperation with Azerbaijan

Tue 10 Jul 2018 01:31 GMT | 05:31 Local Time

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The European Bank for Reconstruction and Development (EBRD) remains a committed partner for Azerbaijan and its further development, EBRD spokesperson Anton Usov told Trend July 6.

"We will continue working with the [Azerbaijani] government and the private sector to make further investments in the country that will bring further economic development," he said. "We would like to focus more on SME and financial sector development while helping the economy to diversify further. Renewables is another sector where we see the EBRD’s role as a partner, both in frameworks development and financing of projects."

"We have a robust pipeline of new projects close to 350 million euros," he added. "So far, we have signed one very substantial project, it was a commitment of last tranche of $330 million under Azerbaijan Regional Roads framework, large part of funds to be used for Ganja – Georgian border motorway construction."

Azerbaijan has been cooperating with the EBRD since 1992. Since then, the bank has invested more than $3 billion in 165 projects in the financial, corporate, infrastructure and energy sectors of Azerbaijan

Meanwhile, 26 percent of investments fall on the private sector.

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