EU to allocate 2 billion euros to Azerbaijan

The European Union is planning to allocate 2 million euros to Azerbaijan to diversify the Azerbaijani economy further, create decent jobs across the country and promote inclusive rural developments.

SİA informs citing the EU Baku office that the investments will be allocated within the framework of the economic investment plan.

"Today, the European Union and Azerbaijan jointly inaugurated a high-level working group on the EU’s Economic Investment Plan. The new coordination body will steer and identify priority investments to be delivered with the support of the EU together with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) as well as the EU Member States’ development finance institutions in the spirit of Team Europe. This will help maximise the potential of Azerbaijan's Economic and Investment Plan, with the objective of mobilising up to EUR 2 billion worth of investments in the country using innovative financial instruments such as blending and guarantee," the EU said.

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