By Alyona Pavlenko

Copyright trend

BAKU, Azerbaijan, September 22.​ The European
Bank for Reconstruction and Development (EBRD) is prepared to
support Azerbaijan’s ongoing efforts to diversify its economy, said
Alkis Vryenios Drakinos, the bank’s Regional Director for the
Caucasus, Trend

Speaking at the 1st Azerbaijan International Investment Forum in
Baku, Drakinos noted that industrialization and diversification are
key to Azerbaijan’s future, ensuring the economy remains resilient
and well-prepared for new challenges.

“Experience shows that for Azerbaijan’s future, it is essential
that the economy stay relevant and competitive. We see
opportunities in investing in technology, leveraging the country’s
strong human capital, and developing skills in artificial
intelligence and digitalization,” Drakinos emphasized.

The EBRD representative also noted that digitalization could be
the wind in the sails for the transport sector, paving the way for
the Middle Corridor and opening doors to financing
opportunities.

“We act as a catalyst for reforms and change, a reliable partner
that can share expertise and build trust, helping to shape the path
of development together. We enjoy excellent relations with the
government of Azerbaijan and look forward to continuing them by
supporting the country’s economy,” he added.

The EBRD has maintained a strategic presence in Azerbaijan for
more than three decades, following the country’s accession to the
institution on September 25, 1992. Since its accession, the EBRD
has cultivated a robust synergy with the nation, executing
substantial capital allocations and endorsing pivotal initiatives
across diverse sectors.

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