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EIB Global open to consider financing electricity, digital connections between EU and S. Caucasus - Vice-President (Exclusive)

Business Materials 23 May 2024 08:01 (UTC +04:00)
EIB Global open to consider financing electricity, digital connections between EU and S. Caucasus - Vice-President (Exclusive)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, May 23. The European Investment Bank (EIB) Global is also open to consider financing electricity and digital connections between the EU and South Caucasus, Vice-President of the European Investment Bank Teresa Czerwińska said in an exclusive interview with Trend.

"EIB Global – the Bank’s development branch responsible for operations outside the European Union (EU), is active in Azerbaijan and stands ready to consider financing of projects aligned with the cooperation priorities between the EU and Azerbaijan. These are outlined at EU`s Global Gateway strategy and Economic and Investment Plan for the Eastern Partnership. Our focus lies on implementing these priorities," she said.

Czerwińska noted that EIB maintains regular communication with partners in Azerbaijan to explore opportunities to support various projects.

"I met with Finance Minister Samir Sharifov in person during Asian Development Bank's annual meeting in Georgia and we discussed potential cooperation. The EIB’s priorities in Azerbaijan include diversification of the economy, upgrading and commercializing public services, digitalization, and promoting green energy and energy efficiency," added EIB’s Vice-President.

The EIB has worked with Azerbaijan since 2014.

The Bank operates under the framework of the European Neighbourhood Policy (ENP), the Eastern Partnership (EaP) and other EU bilateral agreements.

With the support of the EIB, Azerbaijan is aiming to diversify its economy. This process will likely include investments in renewable energy and energy efficiency. The Bank’s priorities in Azerbaijan feature the promotion of balanced and sustained economic development, especially for rural areas, the reduction of inequalities and the diversification of national energy sources.

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