Azerbaijan economy faces double hit

The government was struggling to launch this even before the country’s economy faces the double challenge of the COVID-19 outbreak and the global oil market shock. Further delays should be expected.

The European Bank for Reconstruction and Development (EBRD) is stepping up support for Azerbaijani companies. The EBRD’s support includes measures such as emergency liquidity, working capital and trade finance.

The EBRD is an important institutional investor in Azerbaijan. The bank has invested €3.3 billion (US$3.6bn) through 170 projects in the country. It also provides business advice to local small and medium-sized enterprises, including tourism and health tourism.