BAKU, Azerbaijan, October 7. Azerbaijan and the European Bank for Reconstruction and Development (EBRD) discussed the possibilities of cooperation on digitalization in the field of "government cloud", metro and rail transport, the Minister of Digital Development and Transport of Azerbaijan, Rashad Nabiyev said, TurkicWorld reports.

"During the meeting with Matteo Patrone, Executive Director for Eastern Europe and the Caucasus of the EBRD, we discussed the progress of the broadband Internet expansion project implemented by Aztelecom LLC using a loan from the EBRD," said Nabiyev on X (Twitter).

The EBRD and Aztelecom reached an agreement on financing the development of digital infrastructure in the regions of Azerbaijan in December 2022.

"This was done jointly with our partners from the EU, who supported the allocation of a loan of up to $50 million with a guarantee through the European Fund for Sustainable Development. At the EBRD, we believe that investing in digitalization means investing in the future. Reliable access to broadband services will bring tangible benefits to more than 280,000 households in the regions of Azerbaijan. By bridging the digital divide between the capital and rural areas, the project will also benefit local businesses by making them and their existing or potential workforce more competitive, contributing to the broader development of Azerbaijan's economy in a more inclusive manner," said Patrone.

I am also pleased that the EU intends to provide a grant of one million euros to the Ministry of Digital Development and Transport to improve competition and regulation in the telecommunications sector of Azerbaijan, as well as to strengthen the corporate governance of borrowers. This partnership between the EBRD, the EU, Aztelecom and the government of Azerbaijan, supporting the transformation of a state-owned company, is indeed a success story, on the basis of which we would like to continue cooperation," Patrone said.