Azerbaijan and the European Bank for Reconstruction and Development (EBRD) explore new horizons for collaboration, as stated in a recent tweet by Azerbaijani Economy Minister Mikayil Jabbarov.
During a significant meeting held in Baku, Minister Jabbarov engaged with a high-level delegation led by EBRD's Managing Director for Eastern Europe and the Caucasus, Matteo Patrone.
The discussions revolved around strengthening cooperation between Azerbaijan and the bank, with a particular focus on implementing reforms to foster investment and enhance the business climate.
Remarkably, the EBRD has already invested over 3.53 billion euros into 188 projects in Azerbaijan, establishing itself as a prominent investor in the country since 1992.
Looking ahead, the EBRD envisions an exciting portfolio of investment projects amounting to $750 million for the next three years. Specifically, in 2023, the bank plans to allocate close to $300 million across various sectors, including energy, transport, the private sector, SMEs, and the banking industry.
As this partnership continues to flourish, both Azerbaijan and the EBRD are poised to seize promising opportunities and drive sustainable development in the region.
