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Azerbaijan to attend annual meeting of EBRD in London

20 April 2012 14:30 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Annual Meeting of the European Bank for Reconstruction and Development will be held on May 18-19, in London (UK).

The meeting will discuss the activity of the European Bank in the region, the economic prospects and investment potential of the region, a stable and secure energy future, capital markets, the role of women entrepreneurs in the economy and other issues.

â€œThe meeting is expected to be attended by delegations from Azerbaijan headed by Minister of Economic Development Shahin Mustafayev, as well as representatives of UniBank, AGBank, Bank Respublika, and AccessBankâ€, EBRD office in Baku told.

Note that, Azerbaijan is a member of the European Bank for Reconstruction and Development (EBRD) since 1992.

As of January 1, 2012, $ 476.3 mln of total loans allocated by EBRD was used. According to considered graphic, $205.8 mln was repaid.

4 loans received from EBRD on construction of Yenikend WPS ($53.2 mln), Modernization of air navigation system ($13.7 mln), reconstruction of Azerbaijan-Trans Caucasus Railway Network ($ 20.2 mln) and Improvement of water supply system of Great Baku ($22.7 mln) were completely repaid.

Besides, EBRD has allocated 117 grants to Azerbaijan in amount of â‚¬ 25.811 mln ($ 34.431 mln) during 1992-2011 and these were directed to finance, industry, trade and agro business, energy and infrastructure. Of this, fulfillment of 87 grant projects in amount of â‚¬ 22.131 mln ($29.523 mln) were completed, 30 grants in amount of â‚¬ 3.678 mln ($4.908 mln) are being fulfilled.