EBRD Chief: EBRD to invest $100-200 million in Azerbaijan's economy in 2010

In 2010, the European Bank for Reconstruction and Development (EBRD) intends to invest $100-200 million in Azerbaijan's economy, EBRD President Thomas Mirow said in Baku on March 16.

"We will continue investing in the financial sector and in the real estate sector of Azerbaijan," the EBRD President said.

According to him, in 2009 the bank invested 230 million euros in Azerbaijani economy, 120 million euros was spent to finance the project of Garadagh cement plant.

This [investment in the project of Garadagh cement plant] once again proves implementation of the EBRD's goals to maintain the real sector of the economy of Azerbaijan," Mirow added.

In total, there is an increase in the number of EBRD projects in Azerbaijan.

The Bank has financed 103 projects worth $1.4 billion. Financial institutions of the country, cooperating with the EBRD, got 69 lines of credit and investments in capital totaling $223 million.


/Trend Capital/