EBRD to update strategy on Azerbaijan

The updated strategy is due for signing till 1 April 2005. It would be based on the strategy confirmed on 17 December 2002. The EBRD accepts notes on the issues such as the investments climate (transparency of anti-monopoly regulation, corporate management system, investment climate for small and medium entrepreneurship), infrastructure (financial discipline, transparency, commercialization, restructuring and privatization), capital market (current situation in the banking sector, access for financing the small and medium-scale business, non-bank organizations - leasing and insurance companies) of Azerbaijan.

Over the period of cooperation the EBRD approved 561,328m euros for the implementation of projects in Azerbaijan. In accordance with the updated strategy, it is planned to in crease annual financing by 300m euros.