Growth of EBRD's investment portfolio in Azerbaijan explained

12:34 - 27.11.2023

November 27, Fineko/ The EBRD has unveiled the reason for sharp growth of the investment portfolio in Azerbaijan last month.

Ports that last month the EBRD signed a large project.

Currently, the EBRD is financing the construction of Khizi-Absheron wind farm with capacity of 240 MW.

"For the implementation of this project, Saudi company ACWA Power was given a syndicated loan of $197.1 million (186.9 million euro). After commissioning of the 240 MW renewable power plant, it will generate up to 893 gigawatt-hours of clean electricity a year. That is, most of growth of the investment portfolio relates to this," bank’s statement says.

The portfolio of EBRD assets in Azerbaijan as of October 31 this year increased by 948 million euro (including unpaid liabilities). This figure is 16.5% or 134 million euro higher compared with the previous one. Thus, to date, the EBRD has allocated investments in the amount of 3.751 billion euro to Azerbaijan within 189 projects.

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