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Country data

Population:
9.3 million
Area:
86, 600 sq km
Capital:
Baku
Currency:
Manat

Key developments and challenges

  • Growth continues to be supported by ample hydrocarbon revenues. The authorities increasingly used oil and gas proceeds to expand the non-oil sector, build infrastructure and strengthen social protection. In 2012 almost two-thirds of all investment outlays in the economy were directed to the non-oil sector, which expanded by more than 9 per cent.
  • The authorities are focusing on implementing policies to improve governance and reduce corruption. Some public services are now being provided through single-window service centres, which were created to make the provision of various government services – such as tax collection or registering companies – easier and more transparent.
  • The Shah Deniz consortium chose the Trans-Adriatic Pipeline project to pump gas to Europe. The new pipeline, which is expected to be built by 2019, will transport Caspian gas from Turkey to Italy, via Greece and Albania, thus further diversifying export routes for Azerbaijan.

Azerbaijan in the 2013 Transition Report

Building in Baku, Azerbaijan

Our work in Azerbaijan

In Azerbaijan we invest in the enterprise, financial and infrastructure sectors to promote rapid and sustainable growth.

Azerbaijan

Key facts about the EBRD's work in Azerbaijan

No. of projects

142

Net EBRD investment

€1.7 billion

Gross disbursements

€1.1 billion

Portfolio in private sector

37%

 

Last updated 31 December 2013

View factsheet


Our strategy in Azerbaijan

To help speed up reforms and address some of the challenges facing Azerbaijan, the EBRD’s activities there will focus on three main areas: industry, commerce and agribusiness, finance and energy and infrastructure.

To build up a more attractive investment environment, private sector development in Azerbaijan will be supported. 

Priority areas include increasing investments in the country’s non-oil sector, funding financial sector development and support for small business entrepreneurs.

The Bank will also seek to engage with other international financial institutions and the business community in policy dialogue with the authorities, in order to implement reforms and improve the investment climate.

These will include investment climate issues, mobilising donor financing in support of the preparation and implementation of projects, advisory support, institution building and legal transition work.

 

Read strategy

CONTACTS

Landmark I, 4th Floor
96 Nizami Street
370010 Baku
Azerbaijan
Tel: +994 12 497 1014
Fax: +994 12 497 1019