During this year, the European Bank for Reconstruction and Development (EBRD) will release in Azerbaijan manat nominal bonds to be placed with local and foreign investors, said at a press conference on May 8 said the EBRD President Suma Chakrabarti, who is in Baku within the framework of a tour to the South Caucasus countries. According to him, the issue was one of a wide range of issues discussed with the chairman of the Central Bank of Azerbaijan.
Parameters of the bond placement, including its rate, have not been yet defined. The subject of discussion in the CBA was also the participation of the EBRD in the banking capital in the course of a possible consolidation of local banks, support of small and medium-sized businesses, as well as municipalities, the funding of the agricultural sector under the special mechanism, etc.
The EBRD President during the meeting with Azerbaijani President Ilham Aliyev described the conditions to attract foreign direct investment in the non-oil sector of the country. This provides: transparency of economics and management, the fight against corruption and the use of modern corporate governance standards in the non-oil companies.
The EBRD is also considering participation of the projects "Shahdeniz-2" and "Southern Gas Corridor" in syndicated lending. Decisions on these matters could be taken this summer, in turn, said the head of EBRD Baku office Neil McCain.
Responding the question from Turan on the participation of the Bank in the capital of Azerbaijani companies, he noted that today the EBRD has been represented in the capital of three private banks and three non-financial companies. Proposals on four non-considered financial companies should be considered. The EBRD President Suma Chakrabarti said that the bank's participation in the capital of companies stimulates their growth, and increases the level of corporate governance. During his visit to Baku Suma Chakrabarti will also meet with representatives of business and civil society.
During the 23 years of cooperation with Azerbaijan, the EBRD has invested in Azerbaijani economy two billion 330 million euros in loans and investments for 156 projects. --08B—
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review