President: New economic development program aims to development non-oil sector
President of Azerbaijan Ilham Aliyev has today received the president of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti.
APA reports citing the president's press service that recalling regular meetings with the EBRD president, the head of state stressed Suma Chakrabarti’s visits to Azerbaijan and noted that these visits create opportunities for discussions on future plans.
President Aliyev expressed his satisfaction with cooperation between Azerbaijan and the EBRD. The head of state underlined that the bank’s loan portfolio on Azerbaijan makes up about $3 billion and most of these funds are directed to private sector. Azerbaijani president noted that this also demonstrates the increase of confidence in economy and helps to support entrepreneurs through additional finance.
Expressing hope for successful cooperation with the EBRD in the future, the president said that there are plans and challenges ahead. According to most of projects have been completed or about to complete. The new economic development program aims to develop the non-oil sector, diversify the economy and support to the private sector. President Aliyev stressed that fulfillment of plans on creation of transport and new logistic centers attach great importance.
In turn, Suma Chakrabarti reminded the meetings with Ilham Aliyev and underlined that discussions on cooperation were held in those meetings.
They discussed EBRD’s participation in the Southern Gas Corridor project, cooperation opportunities in transport corridors, support to private sector and management of household wastes.