Azerbaijan has great potential to diversify EBRD portfolio
Baku, April 10 (AZERTAC). “Azerbaijan has great potential to diversify the bank`s loan portfolio”, said the Minister of Economic Development Shahin Mustafayev at a meeting with members of the EBRD board of directors.
The European Bank for Reconstruction and Development (EBRD) has allocated $2.1 billion to fund 117 projects in Azerbaijan since the start of cooperation with the country, according to a report of the Ministry of Economic Development of Azerbaijan.
The minister noted the importance of the bank`s experience in supporting the agricultural and industrial parks and invited the bank to direct financing of private enterprises and the expansion of participation in share capital.
"This is the second visit of members of the Advisory Board of Directors of the bank in Azerbaijan, which is an indicator of successful cooperation between the bank and the country," Mustafaev said and added he appreciated the support provided by the Bank in the development of the public and private sectors.
Mustafayev invited the EBRD to expand direct financing and equity participation of private companies and organizations.
In turn, a member of the Board of Directors of the EBRD Jonathan Ockenden noted that Azerbaijan`s economic success is in the focus of the bank.
"I am confident that in the future cooperation between the EBRD and Azerbaijan will continue successfully," he said.
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