EBRD looking to invest $100-$200mm in Azerbaijan

Financial institution says 230 million euros were invested in the country in 2009.

{reg} The European Bank for Reconstruction and Development (EBRD) said it plans to extend $100-$200 million worth of investments to Azerbaijan this year, a report from Trend Capital said.

"We will continue investing in the financial sector and in the real estate sector of Azerbaijan", the EBRD said.

EBRD noted that in 2009, they spent 120 million euros of the total 230 million euros it invested in the country to foot the construction of a new cement plant.

This [investment in the project of Karadagh cement plant] once again proves the implementation of the EBRD's goals to maintain the real sector of the economy of Azerbaijan", the report said.