EBRD spends 50 million euros for projects in Azerbaijan in 2013

The European Bank for Reconstruction and Development (EBRD) invested 50 million euros in 12 projects in Azerbaijan in 2013, head of the EBRD office in Azerbaijan Neal McCain told on Friday.

"We have invested about 50 million euros in 12 projects since early 2013," he said. "The figures will be significantly changed by late 2013 as we expect approving big projects in the area of improving the road infrastructure and other spheres."

According to him, the bank implements the business plan ahead for this year.

"We financed a bit more than expected," he said. "This concerns the number of projects and their volume. The private sector is being developed well today. We feel this. There are much more those willing to work with us. The quality of such companies is much better than two years ago."

The EBRD has delivered 134 loans worth 1.5 billion euros for the projects in Azerbaijan.

Adapted from TODAY.AZ