Azertag,
22, April 2008

Azerbaijani Minister of Economic Development Heydar Babayev met with visiting Executive Director of the European Bank for Reconstruction and Development (EBRD) Manuel Sager. Mr. Babayev underlined that Azerbaijan pays high attention to development of the relations with international financial structures, including EBRD.

Minister noted that several projects implemented in the state and private sectors of the country were funded by EBRD. The Bank closely participated in creation of Azerbaijan's "Unibank", "Azardamiryolbank", "Microfinancing Bank" as well as loaned credits to the private banks of the country, said Mr. Babayev. Minister underscored that EBRD also supports the projects on reconstruction of Hajigabul-Kurdamir Motor Road, rehabilitation of Azerbaijan Thermoelectric Power Station, reconstruction of the State Railway Hauling Equipment and reconstruction of Baku-Samur Highway.

Mr. Sager highly valued the reforms being implemented in the economy of the country as well as in business area. The sides also discussed EBRD's annual meeting , which is to be held in Kiev, on May.

Head of EBRD Baku office Mr. Valerio Razlok was present at the meeting.