Joint Seminar of BSE and PricewaterhouseCoopers Azerbaijan

Baku hosted a joint seminar of BSE and PWC (PricewaterhouseCoopers) Azerbaijan «Financing through shares and bonds and IPO».

According to the statement by the representative of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan Neal McCain, the agency plans to adopt an action plan in June to issue bonds denominated in manats.

"Our experts regularly come to Baku to discuss the matter. In June, we are planning to adopt an action plan. In addition, we are preparing to sign a memorandum of understanding with the Central Bank of Azerbaijan," he said, however not naming the dates of the securities issue.

The head of the mission said that the EBRD also intends to offer new tools to enhance the possibilities of attracting funding in manats. "We are negotiating with the Central Bank and the State Securities Committee to use all possible tools, such as currency interest rate swaps, bonds, notes, etc.," he said.

During the cooperation with Azerbaijan, the EBRD has committed the country 2.3 billion Euros for the implementation of about 160 projects. Last year alone, the EBRD committed 238 million Euros to 21 local projects. --17D-