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EBRD's shareholder representatives visit Azerbaijan
Representatives of the shareholders of the European Bank for Reconstruction and Development begin a four-day visit to Azerbaijan late Tuesday. It will be the first visit by members of the EBRD's Board of Directors to Azerbaijan since 1998.
The Board of Directors represents the Bank's 62 public shareholders and approves all Bank projects. The goal of the visit is to learn more about the state of reforms and economic transition in Azerbaijan as the Bank prepares a new strategy for its operation in the country.
The delegation includes Directors Joaquin de la Infiesta, representing Spain and Mexico; Laurent Guye, representing Switzerland, Turkey, Liechtenstein, Uzbekistan, Kyrgyz Republic, Azerbaijan and FR Yugoslavia; Norbert Radermacher, representing Germany; and Jean-Louis Six, representing Belgium, Luxembourg and Slovenia.
The delegation also includes Alternate Directors Ayse Dönmezer, representing Turkey, Switzerland, Liechtenstein, Uzbekistan, Kyrgyz Republic, Azerbaijan and FR Yugoslavia; Gary Johnston, representing Korea, Australia, New Zealand amd Egypt; and Igor Ocka, representing Hungary, Czech Republic, Slovak Republic and Croatia.
The Directors are expected to meet with senior government officials, representatives of the diplomatic community and civil society, and investors. The delegation will also visit a rural SME project and the Sangachal Oil Terminal.
The EBRD has committed €330 million through 17 projects in Azerbaijan, in sectors such as infrastructure, oil and gas, banking and property. The most recent investment was a $1.25 million equity investment in the new Microfinance Bank of Azerbaijan.
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