EBRD to help Central Bank of Azerbaijan

EBRD to help Central Bank of Azerbaijan


The Central Bank of Azerbaijan has requested technical assistance from the European Bank of Reconstruction and Development (EBRD).

Yesterday, CBA Chairman Elman Rustamov held negotiations on Baku with the Managing Director for Financial Institutions at EBRD, Nick Tesseyman. “The sides noted good prospects of cooperation between the CBA and the EBRD and discussed priority directions for technical assistance,” abc.az reports.

The sides also discussed the activity of the EBRD in Azerbaijan’s financial sector, the development of the banking sector and the challenges it faces.

Rustamov said that the Azerbaijani economy was developing successfully in the first half of 2015 and the banking sector maintained its stability, noting that the CBA is ready to support the EBRD strategy for the country.

Tesseyman, in his turn, said that the EBRD is ready for close cooperation and informed about the Bank’s near-term plans for the country.