Baku: Europe is ready to help Azerbaijan diversify its economy, said Alkis Drakinos, Director for the Caucasus at the European Bank for Reconstruction and Development, during his speech at the Azerbaijan Investment Forum, APA reports.
According to Azeri-Press News Agency, Drakinos emphasized the willingness of the European Bank for Reconstruction and Development (EBRD) to support Azerbaijan in its economic diversification efforts. He stated, “We are ready to assist Azerbaijan in diversification. Companies cannot do anything without the support of governments. In this regard, we are ready to cooperate with the Azerbaijani leadership in the use of human resources, digitalization of the economy, artificial intelligence, and other areas, and to offer our expertise to this country.”
The focus on diversification comes as Azerbaijan seeks to reduce its economic dependence on oil and gas by exploring other sectors. The EBRD’s offer to assist in areas such as digitalization and artificial intelligence aligns with global trends towards technology-driven economic development. Drakinos’s comments highlight the importance of governmental support in facilitating this transition and underscore the EBRD’s role as a partner in these efforts.