EBRD to decide in 2018 on purchasing share in International Bank of Azerbaijan - EXCLUSIVE

Baku. 24 November. REPORT.AZ/ "The European Bank for Reconstruction and Development (EBRD) may adopt a decision in 2018 on participation in the privatization of the International Bank of Azerbaijan (IBA) OJSC".

Francis Malige, EBRD Managing Director for Eastern Europe and Caucasus told Report.

According to Malige, firstly, IBA should be fully ready for privatization: "I also participated in the meetings of EBRD President Sir Suma Chakrabarti in Baku in September. As for the government's proposal for the IBA privatization, the EBRD has not yet made a final decision on this. In my opinion, the Azerbaijani bank should be ready for privatization. Then, the investor should be involved from the open market. Also, market value of IBA should be determined on the stock exchange. We can consider the proposals, when the IBA is ready".