The European Bank for Reconstruction and Development (EBRD) allocated $3,6 bn in loans to Azerbaijan for 157 projects so far, says Kamola Makhmudova, head of the EBRD in Azerbaijan, APA-Economics reports.
She stressed that 54% of the loans that were allocated have been related to the private sector.
Kamola Makhmudova highlighted that 2022 was the year of firsts in Azerbaijan for EBRD: "A number of projects related to the circular economy and green economy were also implemented. And the IT Hub Azerbaijan project will create new work opportunities in the regions of Azerbaijan outside of Baku and will support investment attraction to the regions."
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