EBRD invested €2.3 bln in Azerbaijan during 22 years

Baku: Within our 22-year cooperation, the most funds in Azerbaijan’s non-oil sector was invested by the European Bank for Reconstruction and Development (EBRD), said the EBRD President Suma Chakrabarti at the press conference in Baku.

“During the reporting period, the bank invested about €2.3 bln in 160 projects”, he said.

EBRD President said that bank hit record last year for investing in Azerbaijan’s economy: “EBRD spent €238 mln for 21 projects in 2014”.

Chakrabarti noted that the projects implemented by the bank were directed to economic diversification.

“We also participate in the big projects such as Shahdeniz. However, our main projects are related to support of small, medium and large business”, he said.

He noted he met with Azerbaijani President Ilham Aliyev today: “We discussed extension of cooperation between Azerbaijan and EBRD”.

According to him, both Azerbaijani government and EBRD understand that the agriculture sector needs more support.

Along with this, Chakrabarti noted that the EBRD will closely cooperate with Azerbaijan in the projects such as infrastructure, energy efficiency, support to municipalities.

SOURCE: Azeri Press News Agency