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Country data

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

Key developments and challenges

  • Developing a sustainable financial sector to support private sector development. The Bank will aim to strengthen financial intermediation to ensure efficient financing of the private sector, particularly SMEs and MSEs, including in the regions. The Bank will promote high standards of corporate governance and risk management, which should contribute to increased competition, setting new standards and opening new markets for banks, and will support consolidation in the banking sector through potential equity investments.  
  • Improving governance and the business environment. In order to support the authorities’ goals of promoting competition and improving the business environment, the Bank will prioritise engagement with private and public sector clients who can demonstrate commitment to high standards of corporate governance and transparency and who have a commitment to improving management practices.
  • Promoting market-driven economic diversification. The Bank will support leading local corporates with direct financing while helping EBRD partner banks to remain active in the corporate segment through MCFF. In the MSME sector the Bank will place a special emphasis on the agribusiness sector, and will support local banks to develop their capacity to support agricultural and regional lending.
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

146

Net EBRD investment

€1.8 billion

Gross disbursements

€1.1 billion

Portfolio in private sector

49%

 

Last updated 31 March 2014

View factsheet


Our strategy in Azerbaijan

Azerbaijan has reached a critical stage in its development. With oil output set to decline from 2017 and the economy’s dependence on accumulated hydrocarbon revenues very high, diversification of the economy will be critical to ensure that Azerbaijan enters the post-oil period with a modern and vibrant private sector. 

Although the authorities have adopted ambitious targets for diversification under the Vision 2020 strategy and have made some progress in modernising the economy, structural reforms needed to support self-sustaining growth in the non-oil sectors should be accelerated.

 

Read strategy

CONTACTS

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