BAKU, Azerbaijan, December 20. The European Investment Bank (EIB) stands ready to consider financing projects, both in the public and private sector that are in line with the cooperation priorities between the EU and Azerbaijan, an EIB spokesperson told Trend.
According to the source, within its EIB Global initiative, the bank’s development branch responsible for operations outside the EU, the EIB prioritizes green energy, energy efficiency, connectivity, digitalization, and sustainable infrastructure within its cooperation with Azerbaijan.
"EIB Global is also ready to consider regional connectivity projects including submarine electricity and digital connections between the EU and the South Caucasus region, for example, the Black Sea submarine electricity cable," the spokesperson noted.
The bank representative also pointed out that the EIB is particularly focused on the implementation of the EU Global Gateway Initiatives and the Economic and Investment Plan for the Eastern Partnership.
"If there are projects in the country that would benefit from our financing and meet EU policy goals and our various standards, we are always open to considering financing those projects. We are in regular contact with the representatives of the Government of Azerbaijan as well as public sector counterparts regarding our potential support to various projects," the source said.
Meanwhile, the EIB has been collaborating with Azerbaijan since 2014. Operating within the guidelines of the European Neighbourhood Policy (ENP), the Eastern Partnership (EaP), and other bilateral agreements within the EU, the bank has invested over 96 million euros in the country. In partnership with a local bank, the EIB has granted funding totaling 25 million euros to support over 120 enterprises.