AZERBAIJAN ECONOMIC DEVELOPMENT MINISTER MEETS EBRD DIRECTOR

Baku, 21 June, (AzerTAj) - Azerbaijan Minister of Economic Development Heydar Babayev met with Michael Davey, European Bank for Reconstruction and Development (EBRD) Director for Caucasus, Moldova and Belarus.

During the conversation, Mr. Babayev expressed satisfaction with current level
cooperation between Azerbaijan and EBRD, estimating it as very effective and
fruitful for both sides.

Minister Babayev said Azerbaijan attaches great importance to develop ties with the
International Financing Structures, including EBRD.
As a whole, a number of projects were realized in Azerbaijan by the financing
support of EBRD.

Informing the guests about the works done recently in Azerbaijan, the Minister
highlighted that Azerbaijan is keen in continuously enhancing cooperation with EBRD.
In his turn, EBRD Director for Caucasus, Moldova and Belarus Michael Davey expressed
his satisfaction with the cooperation with Azerbaijan, stressing that the steps
undertaking in Azerbaijan and directed towards development of enterprises,
improvement of business-fields are in the center of attention of EBRD.

The meeting also discussed issues concerning construction of the new cement plant
and Electric Power Station in Azerbaijan by the financing support of EBRD.