The 30th annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) took place in the format of a videoconference with the participation of representatives of member countries, as well as representatives of international organizations.

Representatives of the EBRD member countries were heard at the plenary meeting of the Board of Governors.

Speaking at the event, EBRD Governor for the Republic of Azerbaijan, Minister of Economy Mikayil Jabbarov stressed that Azerbaijan attaches great importance to the development of relations with the bank, that the EBRD has always been a reliable partner, and thanked for the long-term and sustainable support for the economic development of our country.

Mr. Jabbarov made the participants aware of the large-scale support measures being taken to reduce the impact of the COVID-19 on the economy of Azerbaijan, and noted that in January-May 2021, GDP increased by 0.8%, and added value in the non-oil and gas sector - by 4.5%.

Emphasizing the priorities of Azerbaijan's socio-economic development until 2030, Minister of Economy Mikayil Jabbarov said that the targets set out in the EBRD's Strategic and Capital Framework 2021-2025 are in line with the targets set for the Azerbaijani economy. This creates great potential for new areas of cooperation between Azerbaijan and the EBRD.

The plenary session focused on the areas of cooperation between Azerbaijan and the EBRD in the restoration and reconstruction of our liberated lands, ensuring the great return of our people to these lands, including in transport and transit, logistics, green economy and renewable energy.

The sides exchanged views on the strategic directions of the EBRD's activities, heard financial reports and determined the institutional composition of the Bank's Board of Governors for the next year.