2024-05-13 12:23:58
Azerbaijan is taking important steps to develop the Middle Corridor trade route.
As Day.Az reports, the head of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan, Natalya Mouravidze, said this in an exclusive interview with Trend.
“Our economists note that important steps are being taken to develop the Middle Corridor trade route and promote renewable energy sources,” Mouravidze emphasized.
According to her, support for the development of the information technology sector and digitalization of the economy is also growing in Azerbaijan.
“New tax legislation is stimulating the IT industry, and capital market development is being supported by a new digital platform that allows market participants to issue securities online. We believe that further investment in developing communications, improving the legislative and regulatory framework for renewable energy and further investment in the non-oil sector will lead to sustainable economic diversification and strong growth in the future,” added Mouravidze.
Speaking about the country’s economic development prospects, she emphasized the need for sustainable investment in various sectors, which helps create a favorable environment for business development and attracting international investors. Confidence was expressed in the successful development of the country and the support of its economic reforms from international financial institutions.
It should be noted that as of February 29, 2024, the loan portfolio of EBRD projects in Azerbaijan was estimated at 937 million euros, the loan portfolio is designed for the implementation of 32 projects.
The majority of the portfolio (90 percent, or 848 million euros) is aimed at investments in sustainable infrastructure, seven percent (64 million euros) on investments in industry, trade and agriculture, and three percent (26 million euros) on investments in financial institutes.
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