BAKU, Azerbaijan, June 6. European Bank of Reconstruction and Development (EBRD) is eager to work with new eligible cities in Karabakh region, and to welcome them into EBRD Green Cities program, Kamola Makhmudova, EBRD Country Head for Azerbaijan, told Trend.
“According to the initial reports shared by the Ministry of Energy, the Karabakh region has a huge renewable energy potential – around 3,000-4,000 MW of solar energy and 300-500 MW of wind energy. This is encouraging for the renewable energy sector in the country,” she said.
As the official explained, cities under the program need to commit to improving their environmental performance and promoting the transition to green, low-carbon and resilient futures.
“The key criteria for the cities to commit to the development and implementation of a Green City Action Plan (GCAP) and launch a trigger investment project with the EBRD. In addition, eligible cities need to have a population of at least 50,000 residents. If there was a relevant request, we could look at potential opportunities on a project-by-project basis,” Makhmudova added.
As EBRD Country Head noted, Ganja was the first Azerbaijani city to ever join the Green Cities program, and the Bank hopes to start working with new green cities in Azerbaijan in the nearest future.
“EBRD Green Cities offers more than 5 billion euros of EBRD and donor support to cities. Through the program, the Bank can work with public and private sector clients to invest in a wide range of sustainable urban infrastructure measures including: district energy, green buildings and building retrofits, renewable energy, distribution system, urban transport, street lighting, urban climate resilience, water and wastewater, solid waste, smart solutions and nature-based solutions,” she added.
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