EBRD OFFICIALS VISITING NAKHCHIVAN
This is the first of the series of visits the EBRD officials are intending to pay to the regions of Azerbaijan within the framework of the Bank’s Early Transition Countries Initiative. The ETCI was launched in 2004 to stimulate market activity in the Bank’s least developed countries of operations through smaller transactions supporting the local private sector, rural development and diversification.
The ETCI, as well as the EBRD’s newly approved Country Strategy for Azerbaijan, closely complements the Government’s State Program on Poverty Reduction and Economic Development and the State Program for regional Economic Development. These programs were adopted by the Government of Azerbaijan in order to achieve balanced economic growth, through development of the non-oil sector and promoting agricultural and regional development.
The EBRD officials have met with local authorities in Nakhchivan to discuss regional development and growth and to seek for the opportunities to make investments in the enclave. They have also met with small and medium enterprises, which may benefit from the credit lines opened by EBRD with privately owned Azerbaijani banks.
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