EBRD director to get familiarized with Azerbaijan's priorities for future cooperation

"The main purpose of the visit of the delegation of the Board of Directors of the Bank to Azerbaijan is to get familiarized with the process of transition to a market economy, and the role that EBRD play in this process," the Office said earlier.

Within the future strategy of the bank's cooperation with Azerbaijan, the Bank's director will get acquainted with the latest priorities of the Azerbaijani Government on the expected goals of the EBRD, said in the report.

During the visit, it is expected to conduct meetings with partners of the bank, the organizations, state agencies with which the Bank is cooperating. EBRD Board of Directors conducts such missions in each member country included in the zone of operations of the bank every 3-4 years. A mission visited Azerbaijan in 2007 last time.

In 2009, the Bank invested 230 million euros in Azerbaijani economy, of which 120 million euros was directed to finance expansion of Garadagh cement plant. The Bank has financed 103 projects worth $1.4 billion. Financial institutions cooperating with the EBRD, received 69 lines of credit and investments totaling $223 million from the bank.


/Trend/