BAKU, Azerbaijan, May 15. Azerbaijan's Minister of Economy Mikayil Jabbarov, who is on a visit to the UK to participate in the Annual Meeting of the European Bank for Reconstruction and Development (EBRD), took part in the opening and plenary sessions of the Bank’s Board of Governors, a source in the Azerbaijani Ministry of Economy told Trend.
Within the framework of the visit, Jabbarov also met with the Global Head of Industries at Oliver Wyman Group, Ted Moynihan.
During the Annual Meeting of the EBRD, the minister participated in the opening session of the Bank’s Board of Governors.
The session featured discussions on the effective use of economic resources in the face of global challenges, development of infrastructure supporting climate action, digital transformation, investments in modern business solutions, industrial policy, and social security — with a focus on best practices and potential opportunities.
As part of the Annual Meeting, the Plenary Session of the EBRD Board of Governors was held, where Jabbarov delivered a speech.
He emphasized the EBRD’s continued support for its partner countries. It was noted that the past year was marked by major investments and projects for the EBRD, demonstrating the Bank’s growing influence in the international financial arena.
Cooperation with the EBRD in areas such as public-private partnerships and expanding support for small and medium-sized enterprises (SMEs) is particularly important.
Additionally, the bank’s investments that drive global economic growth and accelerate the green transition were highlighted as being of great significance.
Meanwhile, it was underlined that Azerbaijan remains committed to addressing global challenges and advancing the green transition.
By hosting COP29, Azerbaijan has demonstrated global leadership and achieved a landmark agreement to triple climate finance for developing countries.
This agreement envisions annual climate financing of $300 billion for such countries by 2035.
The event also highlighted Azerbaijan’s strategic role in international energy and trade platforms, its initiatives, and cooperation opportunities in these sectors.
During the meeting between Jabbarov and Moynihan, information was provided on the efforts to diversify the economy of Azerbaijan and develop the non-oil sector.
The sides exchanged views on cooperation opportunities to increase added value and exports in the national economy, and to attract investments, particularly in light of current challenges in the business environment.
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