Azerbaijan, Baku, Nov. 15 / Trend A. Akhundov /
A sizeable reduction in the limit on external borrowing by the Azerbaijani government in 2013 will not affect the transactions of the European Bank for Reconstruction and Development (EBRD) in the country, head of the EBRD office in Azerbaijan Neal McCain told Trend on Thursday.
The borrowing limit is planned to be decreased by 1.3 billion manat in 2013 compared to 2012, or by 62.5 per cent to 750 million manat.
"We do not care because we are focused on the private sector," he said. "We have already signed the contracts on rather large projects in 2011."
He added that there are no specific new infrastructure projects in Azerbaijan's infrastructure.
"In case of a great number of projects in the private sector, we have many prospects," McCain said.
EBRD strategy in Azerbaijan is aimed at encouraging small private enterprises, developing the banking sector and the non-oil sector of the economy.
At present, the EBRD allocated over $1.5 billion for Azerbaijan to finance 120 projects in various sectors of economy.
