EBRD Tallies Its Investments In Azerbaijani Projects Over Last Three Decades

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 1. The European Bank for Reconstruction and Development (EBRD) has invested approximately 3.6 billion euro in 200 projects in Azerbaijan over the past 30 years, EBRD's Deputy Director for Bonds, Central Asia, the Caucasus, and Türkiye Mikhail Grechikho said at the 'Opening Bell' dedicated to the placement of EBRD bonds on the Baku Stock Exchange, Trend reports.

He recalled that the EBRD is one of the largest investors in Azerbaijan.

"The projects cover various areas, such as renewable energy, infrastructure, and power generation. For example, I can mention a solar power plant with Masdar, a wind power plant with ACWA Power, etc.

I'm very pleased that today we add a new milestone to this list of achievements. This time we are taking a new step in the country's financial sector because capital markets and the financial sector are one of the strategic pillars of our strategy in Azerbaijan.

Within this pillar, we promote investments, support green projects, support inclusive financing, assist small and medium-sized enterprises, and also actively and productively cooperate with regulatory authorities, including the Central Bank of Azerbaijan, in which we have made a lot of achievements.

Specifically, in recent years, we have helped develop the local regulatory market. This has allowed us to issue our bonds on the local market. We have also supported regulatory reforms related to derivative financial instruments," he said.

The EBRD official made it clear that, hand in hand with the Central Bank of Azerbaijan, they have crossed the finish line in putting together the framework for the money market's development.

"We are also actively promoting the green agenda together with the Central Bank. Last year, during the COP events in Baku, we held a series of master classes, which helped local banks improve their climate risk management.

Thus, capital markets remain one of the key priorities of our strategy.

We won't stop here. I'm confident that this operation-the placement of EBRD bonds-will pave the way for future issuances," he added.

The EBRD has maintained a strategic presence in Azerbaijan for more than three decades, following the country's accession to the institution on September 25, 1992. Since its accession, the EBRD has cultivated a robust synergy with the nation, executing substantial capital allocations and endorsing pivotal initiatives across diverse sectors.

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