(MENAFN- AzerNews)
Azerbaijan and the European Investment Bank have discussed the
implementation of ongoing and planned joint projects, Azernews
reports.
'During the meeting with @MaciejCzura, Head of the European
Investment Bank's (@EIB) Regional Representation for the South
Caucasus, we discussed the implementation of ongoing and planned
projects, economic development of our country, investment
opportunities, as well as the prospects of cooperation with the
Bank,' Economy Minister Mikayil Jabbarov tweeted.
During the meeting, the parties briefed on the bank's financing
mechanisms and exchanged views on expanding the partnership.
They also discussed the development of cooperation, financing of
alternative energy sources, the private sector, especially small
and medium businesses, as well as opportunities for cooperation
with the Entrepreneurship Development Fund.
The European Investment Bank has worked with Azerbaijan since
2014. The bank operates under the framework of the European
Neighbourhood Policy (ENP), the Eastern Partnership (EaP), and
other EU bilateral agreements. The bank has invested more than €96
million in the country. Through cooperation with a local bank, the
EIB has provided funding worth €25 million to more than 120
enterprises.
With the support of the EIB, Azerbaijan is aiming to diversify
its economy. The bank's priorities in Azerbaijan feature the
promotion of balanced and sustained economic development,
especially for rural areas, the reduction of inequalities, and the
diversification of national energy sources.
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