BAKU, Azerbaijan, December 15. The Central Bank of Azerbaijan (CBA) and the European Bank for Development and Reconstruction (EBRD) have discussed prospects of cooperation, said CBA chairman Taleh Kazimov on X (Twitter), TurkicWorld reports.

"We met with an EBRD delegation led by Treasurer Axel van Nederveen at the Central Bank. We addressed the EBRD's actions in Azerbaijan, the current situation, and the prospects for cooperation between the CBA and the EBRD, as well as our perspectives on local money markets," the CBA head said in the publication.

The EBRD has been cooperating with Azerbaijan since 1992 and is the country's leading investor.

According to Kamola Mahmudova, former head of the EBRD's representative office in Azerbaijan, the estimated portfolio of investment projects for the next three years is $750 million. The EBRD intends to spend $300 million in many sectors by 2023, including energy, transportation, private sector, SMEs, and banking.