EBRD to allocate €750 million for projects in Azerbaijan

Head of the Office of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan Kamola Makhmudova has said that a loan worth 750 million euros is planned to be allocated for 30-35 projects in Azerbaijan in the next three years.

Makhmudova made the remarks in an interview with APA on September 22.

She noted that these are large projects and both the public and private sectors are involved in them.

“20-30 per cent of projects are related to the transport sector. The rest is related to energy, manufacturing and the private sector,” she said.

Speaking about the signing by the bank of the second project related to the city of Ganja, Makhmudova noted that the EBRD plans to implement the "green city" project in two more cities - Mingachevir and Sumgait.

She added that the EBRD can also provide support to projects implemented in Karabakh.

“We are very interested in this. We are just waiting for government proposals in this area,” she concluded.