EBRD invested €2.5B in Azerbaijan so far

EBRD invested €2.5B in Azerbaijan so far
  • Clock-gray 11:19
  • calendar-gray 21 October 2016

Baku. Yegane Lachinzade - APA-Economics. The European Bank for Reconstruction and Development (EBRD) invested about €270 million in Azerbaijan last year, EBRD President Suma Chakrabarti said in his interview to Caspian Energy magazine.  

 

According to him, EBRD’s total investment in Azerbaijan now stands at €2.5 billion: “We invest mostly in private sector projects and the overwhelming majority of our 162 individual projects in Azerbaijan have provided financing and advice to small and medium-sized enterprises (SMEs). It’s important to stress that because we invest a tremendous amount of time and effort into SME development. But speaking of capital intensive projects, in the Caspian region then tend to be in the energy and natural resources sectors, helping the diversification of energy mix and of routes and sources of energy supply. We are now considering how specifically we can support the Southern Gas Corridor project. The EBRD may arrange a significant syndicated financing package, involving commercial banks, to support the TAP. Currently, we are examining possibilities to finance the TANAP”.

 

 

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