Azerbaijan has seen robust economic growth over the last three years, but it still faces major transition challenges across most sectors, according to the EBRD’s new strategy for the country which runs from 2010 to 2013.
The strategy analyses the country’s progress in political and economic transition and outlines the Bank’s priorities in Azerbaijan over the next three years. Priority areas will be increasing investments in the country’s non-oil sector, as well as funding financial sector development and support for small business entrepreneurs. Another key priority will be policy dialogue with the authorities to implement reforms and improve the investment climate.
“The new document outlines the EBRD’s continued support to the non-oil sector and business environment development. The Bank will continue to support the development of the financial sector, as one of its priorities, and assist Azerbaijan to diversify its economy by providing financing and technical assistance to Azerbaijan’s corporate sector,” Head of the EBRD Office in Azerbaijan said