The State Oil Fund of Azerbaijan, at which the state's income from the implementation of oil and gas projects is accumulated, will invest 100 million euros in the Equity Participation Fund of the European Bank for Reconstruction and Development (EBRD), the fund said in a statement.


State Oil Fund Executive Director Shakhmar Movsumov, commenting on this decision, said that investments in the EBDR Equity Participation Fund is a continuation of the State Oil Fund's investment strategy connected with the use of various financial instruments and the diversification of geographical regions. "This investment structure will also allow us to cooperate with the EBRD. Investments carried out by the EBRD are characterized by a number of long-term development indicators," he said.


"The fund is providing an opportunity to institutional investors participating directly in the EBRD's investment portfolio in the countries of Central and Eastern Europe, Central Asia, and the countries of the Southeastern Mediterranean and Turkey, to carry out investments in the financial, industrial, agricultural, infrastructure and energy sectors aimed at the long-term increase of capital," the press release said.


The State Oil Fund's money is actively used for financing the budget and major investment projects.

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