(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 16. The European Bank for
Reconstruction and Development (EBRD) and the Azerbaijan Investment
Holding signed a document providing for cooperation in the field of
cargo transportation, trend reports via the tweet of the First Deputy
Minister of Economy of Azerbaijan Elnur Aliyev.
According to Aliyev, the document was signed within the
framework of the 32nd Annual Meeting of the EBRD Board of
Directors.
"At the session dedicated to the investment opportunities of
Azerbaijan, held within the framework of the 32nd Annual Meeting of
the Board of Directors of the European Bank for Reconstruction and
Development, we spoke about the business and investment environment
of our country, renewable and green energy, transport and transit
potential," the official added.
The loan portfolio of the EBRD projects in Azerbaijan was
estimated at 844 million euros as of March 3, 2023.
The loan portfolio is for the implementation of 35 projects.
The major part of the investment portfolio (87 percent or 730
million euros) focuses on sustainable infrastructure, 10 percent
(85 million euros) – on industry, trade, and agriculture, and three
percent (29 million euros) – on financial institutions.
In total, the bank has invested over 3.53 billion euros in 188
projects in Azerbaijan.
The European Bank for Reconstruction and Development (EBRD), the
country's leading investor, has been cooperating with Azerbaijan
since 1992.
Earlier, EBRD Country Head for Azerbaijan Kamola Makhmudova said
that the expected portfolio of investment projects for the next
three years is $750 million. The EBRD plans to allocate nearly $300
million in 2023 for energy, transport, the private sector, SMEs,
and the banking sector.
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