BAKU, Azerbaijan, April 30. Prospects for
expanding cooperation between Azerbaijan and the European Bank for
Reconstruction and Development (EBRD) were discussed during a
meeting at the Ministry of Finance, the ministry told Trend.
According to the ministry, Azerbaijan’s Finance Minister Sahil
Babayev received a delegation led by Elisabetta Falcetti, the EBRD
Executive Director for Türkiye and the Caucasus.
The meeting focused on expanding cooperation between Azerbaijan
and the EBRD, the implementation status of ongoing projects, and
future initiatives.
Minister Babayev noted that cooperation with the EBRD plays a
significant role in the country’s sustainable socio-economic
development and continues within the framework of the bank’s
Country Strategy for 2025-2030, with a focus on economic
diversification, private sector development, green transition, and
strengthening regional connectivity.
It was highlighted that the EBRD has invested 3.71 billion euros
across 202 projects in Azerbaijan to date. The bank’s current
portfolio in the country amounts to 898 million euros, with a
significant share directed toward the private sector.
Touching upon infrastructure projects implemented in Ganja with
EBRD support, the minister emphasized the strategic importance of
water supply and sewage projects and underlined the need for phased
implementation and financing in line with established
schedules.
It was also noted that Azerbaijan contributes as a donor partner
to various funds managed by the EBRD within the framework of
cooperation.
In turn, Falcetti expressed satisfaction with the development of
cooperation with Azerbaijan and reaffirmed the EBRD’s readiness to
continue joint initiatives in supporting the private sector,
expanding green finance instruments, 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 Greater Baku-Absheron Water Program.
During the meeting, both sides 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.
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