EBRD: Azerbaijan was working to diversify its economy away from the oil sector

The Eastern Partnership countries of Eastern Europe and the Caucasus are becoming more attractive to foreign investors after rolling out reforms that have increased their economic potential, the President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti said today at the inaugural EBRD Eastern Partnership Investment Summit at the Bank’s London Headquarters.

Chakrabarti said, in particular, that Azerbaijan was working to diversify its economy away from the oil sector.

Azerbaijan is represented by Prime Minister Ali Asadov at the event attended by officials from Georgia, Belarus, Armenia, Moldova and Ukraine. He spoke on the topic "Accelerating Development: Opportunities for Investors" at the "Plenary Session of the Eastern Partnership Leaders" moderated by EBRD chief economist Beata Javorcik.

EBRD has so far invested more than EUR 26 billion in more than 1,200 projects in Eastern Partnership countries.