Azerbaijan, Baku, March 2 / Trend N.Ismayilova /
The European Bank for Reconstruction and Development (EBRD) forecasts growth of non-oil sector of Azerbaijan at 12-14 percent in 2011, EBRD Baku Office Head Francis Delaey said.
"In the medium term, we expect maintenance of the momentum of Azerbaijan's economic growth f, including in the oil sector," Delaey said.
He said the country's banking sector should continue the process of strengthening the capitalization and mergers. The development of the sector non-banking credit organizations must also be continued.
"The Central Bank of Azerbaijan (CBA) is aimed at ensuring the stability of the banking sector," he said. "We also support the decision on the privatization of the International Bank of Azerbaijan, as it will enhance the competitiveness of the sector."
He said maintaining the stability of the manat is also important to ensure stable economic development.
The Bank's current portfolio in the country is about $ 1 billion, 46 percent of which falls to in the energy sector.
