EBRD Pres­i­dent to visit coun­try

Azer News - - Business - By Sara Is­rafil­bay­ova

Pres­i­dent of the Euro­pean Bank for Re­con­struc­tion and De­vel­op­ment (EBRD) Suma Chakrabarti will pay a visit to Azer­bai­jan on Septem­ber 7-8.

"This visit un­der­scores the EBRD's com­mit­ment to fur­ther strength­en­ing and di­ver­si­fy­ing the econ­omy to sup­port Azer­bai­jani cit­i­zens,” the EBRD head of­fice told Trend on Septem­ber 5.

The EBRD has in­vested in many small, non-en­ergy pro­jects for the pri­vate sec­tor, each of which has a pos­i­tive impact, for ex­am­ple, help­ing to build small or medium-sized en­ter­prises or im­prove their skills.

The EBRD is an in­ter­na­tional fi­nan­cial in­sti­tu­tion founded in 1991. As a mul­ti­lat­eral de­vel­op­men­tal in­vest­ment bank, the EBRD uses in­vest­ment as a tool to build mar­ket economies.

The Bank was es­tab­lished to sup­port coun­tries of the former Eastern Bloc in the process of es­tab­lish­ing their pri­vate sec­tors. To that end, it of­fers "project fi­nanc­ing" for banks, in­dus­tries and busi­nesses, for new ven­tures or ex­ist­ing com­pa­nies.

The EBRD has al­lo­cated more than €3 bil­lion to Azer­bai­jan for im­ple­men­ta­tion of 160 pro­jects since 1992.

One of the main tasks of the EBRD is to en­sure sta­ble de­vel­op­ment of Azer­bai­jan's non-oil sec­tor by in­vest­ing in small and medi­um­sized pri­vate en­ter­prises.

One of the main pri­or­i­ties of the EBRD in Azer­bai­jan for 2017 is sup­port the local cor­po­rates with di­rect fi­nanc­ing. The EBRD con­tin­ues to pur­sue in­vest­ments in en­ergy pro­jects, es­pe­cially where there is a gap to im­prove ef­fi­ciency and en­ergy se­cu­rity.

The en­ergy sec­tor in­vest­ments ac­count for over 40 per­cent of the Bank’s port­fo­lio, fol­lowed by 40 per­cent into in­fra­struc­ture de­vel­op­ment. The rest ac­count for fi­nan­cial, man­u­fac­tur­ing and ser­vices sec­tors jointly.

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