European Bank for Reconstruction and Development unveils investment volume in Azerbaijan

The European Bank for Reconstruction and Development’s (EBRD) asset portfolio in Azerbaijan as of February 29, 2024 has increased.

The portfolio increased to 937 million euros or $996 million (including unpaid obligations) which is 4.4 per cent or 40 million euros ($42 million) more than the previous one, the EBRD told APA.

There are 32 implemented active projects.

Thus, the EBRD has to date invested 3.723 billion euros ($3.961 billion) within 190 projects in Azerbaijan.

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.

As well as being a country where the EBRD works, Azerbaijan is also an EBRD donor with a total contribution of 3.6 million euros ($3.8 million), of which 50 per cent is for the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund and the other 50 per cent are to the Azerbaijan – EBRD Cooperation Account.