BAKU, Azerbaijan, Dec.22. With one more deal to be signed by year end, the investment of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan this year will exceed 90 million euros, Kamola Makhmudova, head of EBRD in Azerbaijan, said in an exclusive interview with Trend Dec.22.
She noted that approximately half of this investment went to private sector.
“The breakdown is as follows: 25 percent each for sustainable infrastructure sector, and technology media and telecommunications (TMT sector), the remaining for agribusiness, manufacturing & services and financial institutions,” Makhmudova explained.
Azerbaijan jointed the EBRD on 25 September 1992. In Azerbaijan the EBRD focuses on:
- Helping diversify Azerbaijan’s economy by supporting the
development of the private sector in non-oil sectors and
strengthening governance of private and state-owned companies;
- Further expanding access to finance for local businesses by
encouraging lending by banks and non-bank financial institutions as
well as by helping develop local currency and capital markets;
- Supporting to the country’s green economy, including financing
for renewable energy sources, increased energy efficiency and
cleaner transport and sustainable infrastructure.
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