14:46 - 29.07.2020

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July 29, Fineko/abc.az. The European Bank for Reconstruction & Development (EBRD) announced a sharp reduction of its investments in Azerbaijan last year due to low demand.

ABC.AZ reports with reference to APA that enterprises operating in the non-oil sector of Azerbaijan, which is EBRD’s main investment direction, did not face serious difficulties in 2019, and as a result, Bank's investments in the country decreased 17.9-fold (against the previous year) to $17 million last year.

"Nevertheless, the Bank provided financial support in local currency to several SMEs in 2019, and also started cooperation with the banking sector on a SME credit line. We focused on lending to agriculture through banks and supporting financing for farmers," the Bank said.