EBRD Affirms Readiness to Support Azerbaijan’s Economic Diversification

The European Bank for Reconstruction and Development (EBRD) stands ready to support Azerbaijan’s economic diversification, Alkis Vryenios Drakinos, EBRD Director for the Caucasus, said on Monday.

He made the remarks at a panel session held as part of the 1st Azerbaijan International Investment Forum in Baku, The Caspian Post reports, citing local media.

"Azerbaijan and Europe enjoy strong cooperation in the energy sector, and this relationship is poised for further development. The potential of the Azerbaijani economy makes it a promising partner for fruitful collaboration," Drakinos said.

He also praised Azerbaijan's ongoing steps to diversify its economy.

“The EBRD is ready to support Azerbaijan’s economic diversification, The role of the state in supporting corporate success is crucial. To this end, we are ready to collaborate directly with the Azerbaijani government in several key areas, including human resource utilization, the digitalization of the economy, artificial intelligence, and new technologies,” Drakinos added.