EBRD to fund EUR 20 million for 5 projects in Azerbaijan in near future


April 29, Fineko/abc.az. The European Bank for Reconstruction & Development is ready to invest more than $250 million in projects in Azerbaijan this year.

ABC.AZ reports that the relevant statement was made by EBRD president Suma Chakrabarti during a video conference with President Ilham Aliyev.

He noted that in 2019 EBRD’s investing in Azerbaijan was at a low level (EUR 17 million).

According to the EBRD president, they plan to increase much the amount of those funds in 2020: "In particular, we’re ready to invest more than $250 million in projects in Azerbaijan. The EBRD is ready to lend actively to projects in the public and private sectors of Azerbaijan. In particular, in the coming weeks, we’ll allocate EUR 20 million for five projects. In addition, we have a Swap agreement with the Central Bank of Azerbaijan in the amount of $50 million.”