Elman Rustamov, chairman of the Central Bank of Azerbaijan (CBA), last week welcomed a European Bank for Reconstruction and Development (EBRD) delegation led by Sir Suma Chakrabarti, president of the EBRD.
Both parties discussed continued cooperative measures between the two banks and the Republic of Azerbaijan. Specifically the two sides discussed development of the banking sector in the country.
Rustamov made it a point to state that cooperation with the EBRD has played an important role as the country pursues diversification of the national economy and developing sectors outside of oil and natural gas sectors. The EBRD's country strategy also has been a key part in these efforts.
The topics of discussion between both banks included ongoing projects, indicators of macroeconomic health, economic diversification, finance and overall development.
Both parties also covered possible cooperative efforts to enhance technical assistance to banks and their clients, and the development of systems that can adapt to different national, regional and global trends.