In Azerbaijan we focus on:
Helping diversify Azerbaijan’s economy by supporting the development of the private sector in non-oil sectors and strengthening governance of private and state-owned companies.
Further expanding access to finance for local businesses by encouraging lending by banks and non-bank financial institutions as well as by helping develop local currency and capital markets.
- Supporting to the country’s green economy, including financing for renewable energy sources, increased energy efficiency and cleaner transport and sustainable infrastructure.
As well as being a country of operations, in 2019 Azerbaijan joined the community of donors to EBRD with a contribution of USD 2 million to the EBRD TC Fund and USD 2 million to the Eastern Europe Energy Efficiency and Environment Partnership (E5P). This funding will support advisory projects, the implementation of transport and municipal infrastructure investments, including solid waste management and other policy reforms.
The EBRD’s latest Azerbaijan strategy was adopted on 25 April 2019
Azerbaijan's policy response to the coronavirus crisis
The EBRD is monitoring Azerbaijan's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.
EBRD forecast for Azerbaijan’s Real GDP Growth in 2021 4.0 %
EBRD forecast for Azerbaijan's Real GDP Growth in 2022 3.2%
The recovery has been stronger than expected on the back of rising oil and gas prices. GDP growth accelerated to 4.8 per cent year-on-year in the period January to September 2021, mainly driven by non-oil sector growth of 6.2 per cent. However, oil production is rising only gradually in line with Azerbaijan’s commitments to the agreement of OPEC+. Therefore, oil and gas GDP growth remained moderate at 1.4 per cent in the same period. Favourable hydrocarbon prices helped turn the current account into a surplus in the first quarter of 2021.