EBRD president starts South Caucasus tour with Azerbaijan

European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso plans to visit Azerbaijan on September 11-13 as part of a tour of the South Caucasus countries.

"After taking office at the end of 2020, this is the first visit of Odile Renaud-Basso. The EBRD president's five-day visit to the South Caucasus region begins with Azerbaijan, then Odile Renaud-Basso will go to Georgia and Armenia," Report informs citing a source at the EBRD permanent mission in Azerbaijan.

The bank's office did not rule out the possibility of signing loan agreements, but this issue is still in the process of approval, as well as scheduled meetings.

It should be noted that the EBRD has invested a total of 3.318 billion euros [$3.313 billion] in 181 projects in Azerbaijan to date. The share of the private sector in the EBRD's investment portfolio is 12 per cent.

Currently, there are 33 active projects in the bank's portfolio in Azerbaijan. The portfolio of these projects amounts to 833 million euros [$831 million] (an increase of 19 million euros).