On April 30, Sahil Babayev, Azerbaijan's Minister of Finance, met with a delegation of the European Bank for Reconstruction and Development (EBRD), led by Elisabetta Falcetti, the Bank's Managing Director for Türkiye and Caucasus, Report informs.
The meeting focused on enhancing cooperation between Azerbaijan and the EBRD, the implementation of ongoing projects, and future initiatives.
Minister Babayev noted that cooperation with the EBRD contributes significantly to Azerbaijan's sustainable socio-economic development, while also highlighting the collaboration within the framework of the bank's Country Strategy for 2025-2030 covering economic diversification, private sector development, green transition, and boosting regional connectivity.
The meeting noted that the EBRD has invested 3.71 billion euros across 202 projects in Azerbaijan to date, adding that the bank's current portfolio in the country amounting to 898 million euros, with a significant share directed toward the private sector.
The finance minister emphasized that Azerbaijan contributes as a donor partner to various funds managed by the EBRD as part of bilateral cooperation.
Elisabetta Falcetti hailed the development of cooperation with Azerbaijan, reaffirming the EBRD"s readiness to continue joint initiatives in supporting the private sector, expanding green finance mechanisms, and developing sustainable infrastructure.
The sides also exchanged views on projects related to water supply and wastewater systems in Sheki, as well as initiatives envisaged under the large-scale Baku-Absheron Water Program.
The meeting stressed the importance of considering debt sustainability, implementation capacity, and balanced risk distribution as key criteria when evaluating new projects, along with the combined use of loans, grants, and technical assistance instruments.