As APA reports, the Bank is negotiating with Azeri government.

APA was told by the source in the government that Azerbaijan intends to expand cooperation with the EBRD. Negotiations with the Bank on funding of several projects are currently underway.

"Discussions will be held with the EBRD President Jean Lemierre being on a business visit to Azerbaijan concerning provision of state guarantee on the Locomotive Fleet Upgrade Project. The government is not against attraction of the credit on this project in a syndicated form", - the source noted.

The project with the total value of $50 million is expected to be discussed at meeting of the EBRD's Board of Directors in May.