BAKU, Azerbaijan, May 14. Over the years, the European Bank for Reconstruction and Development (EBRD) invested over $4 billion in Azerbaijan, roughly under 200 projects, said Nataly Mouravidze, Head of the EBRD in Azerbaijan, as she addressed a high-level panel titled "Azerbaijan: Emerging Gateway to Green Growth and Connectivity" held as part of the EBRD Annual Meetings in London, Trend reports.
Addressing the event, Mouravidze emphasized the bank’s long-standing role in supporting the country’s economic transformation. "For years, we've been a strong partner in the country's journey towards a more resilient, inclusive, and diversified economy," she said. "Our investments have spanned from energy to infrastructure to financial institutions and support for small and medium-sized businesses".
The bank's rep highlighted that sustainability has been a guiding principle of the EBRD’s engagement in Azerbaijan. "Just as importantly, we've placed sustainability, green innovation, and good governance at the heart of our work," she noted.
Recent years have seen an acceleration in this engagement, particularly in the green economy. "In the past three years, we have been continuously growing our investments in the country, and last year, we did almost 200 million euros," Mouravidze stated. "And I'm very proud to say that 80% of these investments were in the green economy".
Beyond financial commitments, the EBRD’s influence has also extended to policy and reform. "Importantly, our impact goes beyond financing," she stressed. "We have supported transformative policy and reform efforts, from designing the country's first renewable energy auction and hydrogen strategy outlook, to PPP legislation and green city planning for Ganja".