BAKU, Azerbaijan, July 5. Opportunities for cooperation between the Central Bank of Azerbaijan (CBA) and the European Bank for Reconstruction and Development (EBRD) on the implementation of the organization's strategy for the financial sector of Azerbaijan for 2023-2027 have been discussed, Trend reports.
As CBA Chairman Taleh Kazimov wrote on his Twitter page, following the meeting with a delegation led by EBRD Executive Director for Eastern Europe and the Caucasus Matteo Patrone, as well as the newly appointed EBRD Regional Director for the Caucasus Alkis Vrienios Drakinos, and Nataly Mouravidze, Head of the EBRD Office for Azerbaijan, the sides expressed opinions about the cooperation in the banking sector.
"In addition, we discussed the current state and future areas of cooperation between the Central Bank and the EBRD," the publication says.
The EBRD has been cooperating with Azerbaijan since 1992, and is currently the leading investor in the country. As of May 31, 2023, the project portfolio of the EBRD in Azerbaijan amounted to 813 million euros. The loan portfolio is intended for the implementation of 34 projects. Overall, the bank has invested over 3.538 billion euros in Azerbaijan in 188 projects.