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EBRD expands its project portfolio in Azerbaijan

Finance Materials 19 April 2024 10:14 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 19. The loan portfolio of the European Bank for Reconstruction and Development (EBRD) projects in Azerbaijan was estimated at 937 million euros as of February 29, 2024, Trend reports.

However, it was estimated at 917 million euros as of January 31, 2024. Thus, the project portfolio has increased by 20 million euros.

According to the EBRD, the loan portfolio is designed for the implementation of 32 projects.

"The majority of the portfolio (90 percent, or 848 million euros) is aimed at investments in sustainable infrastructure, 7 percent (64 million euros) for investments in the industry, trade, and agricultural sectors, and 3 percent (26 million euros) for investments in financial institutions," the statement of the EBRD reads.

Overall, the bank has invested over 3.7 billion euros in Azerbaijan on 190 projects.

To note, the EBRD has been cooperating with Azerbaijan since 1992 and is the country's leading investor.

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