EBRD hails strategic importance of IT Hub Azerbaijan project

The IT Hub Azerbaijan project is of particular strategic importance for the EBRD (European Bank for Reconstruction and Development) as it helps attract investment to Azerbaijani regions and creates job opportunities there, head of the EBRD in the country Nataly Mouravidze said, News.Az reports citing Trend.

She made the remarks during the closing ceremony of the IT Hub Azerbaijan project.

“This project is of particular strategic importance to the EBRD as it helps attract investment to areas outside our traditional investment destinations, such as Baku, and creates employment opportunities in the regions. The project is being implemented in an inclusive manner, with special support from the EU.

Besides, it supports the government's efforts to promote economic diversification, demonstrating the close cooperation between the EBRD and the Azerbaijani government to develop the country's private sector. As a bank, we are very proud that 55 percent of our portfolio, our investment portfolio, falls in the private sector," she added.

To note, the project "IT Hub: Attracting Foreign Direct Investments in Azerbaijan's Information and Communication Sector"(IT Hub Azerbaijan) is being carried out in collaboration with the Center for Analysis and Coordination of the IV Industrial Revolution (4SIM) of the Azerbaijani Ministry of Economy, StrategEast Company, and the EBRD.

It aims to promote the development of ICT in Azerbaijan by training and employing qualified professionals.


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