Protocol on EBRD support for Baku-Tbilisi-Kars project to be signed in Kazan

Throughout its areas of activity, the EBRD is steadily increasing its operations outside of the national capitals and main cities, a trend reflected in the Bank's decision to hold its Annual Meeting in May 2007 in Kazan, the capital of the Russian Republic of Tatarstan.

The 2007 EBRD Business Forum will take place alongside this Annual Meeting.

The EBRD, owned by 61 countries and two intergovernmental institutions, aims to foster the transition from centrally planned to market economies from central Europe to central Asia.

Azerbaijan's Economic Development Minister, Heyday Babayev, will represent Azerbaijan in the annual meeting, deliver a keynote speech.

Mr. Babayev told a press conference in Baku that the EBRD supports Baku-Tbilisi-Kars railway project to run from Azerbaijan to Turkey via Georgia.

"It is intended to sign a protocol on this issue at the meeting," he noted.