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EBRD to extend $220 million to Azerbaijan in 2010

EBRD to extend $220 million to Azerbaijan in 2010

26 January 2010 16:40 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. The European Bank for Reconstruction and Development (EBRD) will allocate at least $220 million for several new projects in Azerbaijan in 2010, said Francis Delaey, head of the EBRD office in Baku.

According to him, several loan agreements will be signed between the Government of Azerbaijan and the EBRD.

â€œ12 investment projects for 2010 will spend in the order of $ 220 million during the year. Projects will mainly focus telecommunications, agribusiness and financial sectors, as well as the natural resources,â€ he added.

The EBRD has contributed over $1.5 billion for 110 projects in Azerbaijan since the countryâ€™s membership in 1992.

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