European Bank for Reconstruction and Development unveils investment volume in Azerbaijan

ECONOMICS  19 April 2024 - 10:50

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.

Caliber.Az