EBRD may become IBA shareholder

Baku. 15 September. REPORT.AZ/ The European Bank for Reconstruction and Development (EBRD) may seriously consider becoming a shareholder in the International Bank of Azerbaijan (IBA).

Report informs citing the Reuters, EBRD President Suma Chakrabarti said.

He added that the key for the EBRD to seriously consider becoming a shareholder in IBA would be a “corporate governance reform” at the bank.

However, S. Chakrabarti said that it’s very unlikely this year: "It’s very unlikely this year – they need to go through the restructuring process. We said: let's see how you go and we are happy to be involved at a technical assistance level but for the equity stake we really have to see how things have been changing”.