The European Bank for Reconstruction and Development refused to increase investments in Azerbaijan.

According to electronic media, the Bank has refused to increase investments in the leading cement producer of Azerbaijan, "Holjim".

The Board of Directors of the European Bank for Reconstruction and Development has made a decision not to increase investments.

The Bank owns 10% of the shares of the "Holjim" plant. Last year, a decision was made to increase the investment and make the stock up to 20%, but the bank refused.

As a result of the decline in oil prices and demand in the world market since 2016, Azerbaijan has created a very unstable economic situation, and from the point of view of foreign investment, Azerbaijan becomes more and more uninteresting as a business environment.

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