EBRD to Offer Less New Aid for Azerbaijan in 2011

The European Bank for Reconstruction and Development plans to provide USD100 million in new funding to Azerbaijan next year, down from USD240 million in 2009.

“In 2011, funding will depend on the quality of projects, but can also be assessed at the level of $100 million. It will be provide to financial and corporate sector of the economy, and the latter also includes a project in the agricultural sector,” Francis DeLay, EBRD country representative to Azerbaijan, was quoted by ABC.az as saying.

The bank’s existing portfolio in Azerbaijan involves 110 projects worth a total of USD1 billion.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.