EBRD to allocate $ 100 mln to Azerbaijan next year

European Bank for Reconstruction and Development plans to allocate $ 100 mln to Azerbaijan for implementatin of different projects, EBRD Baku-based resident office’s head Francis Delay noted. According to him, this allocation will finance 10-15 project in the country.

He said that, the bank will allocate approximately $ 75-85 mln in 2010. Last year, this sum was $ 250 mln. Overall, EBRD has allocated $1.6 bln to Azerbaijan on 110 projects since their cooperation. Francis Delay also noted that, EBRD’s loan portfolio makes $ 1bln.

EBRD cooperates with 9 banks, 6 microfinance and 3 non-banking organizations in Azerbaijan.


/APA/