BAKU, Azerbaijan, Oct.28
By Leman Zeynalova – Trend:
The Black Sea Trade and Development Bank’s (BSTDB) stands ready to support the Azerbaijani government efforts to meet its emission commitments under the Paris climate agreement and to invest in the nascent climate financing sector in Azerbaijan, Dmitry Pankin, President of BSTDB said in an exclusive interview with Trend.
“Energy efficiency, greater resilience to climate change, and support for renewables energy generation are some of the areas where we will seek to provide support. This is in line with our Bank’s climate finance strategy and our intention to increase such activities in our Member States and to help them undertake a ‘green’ transition,” he said.
Beyond that, Pankin said the Bank will continue to tailor its activities to help Azerbaijan to meet its economic priorities.
“Diversification of the economy is one such feature, and the Bank will look for ways to help Azerbaijan firms outside of the fossil fuel sectors to develop and grow. This will be challenging, given the impact that the energy sector has on non-energy economic activity, but it is important for Azerbaijan to increase wealth generating capacity in other sectors of the economy as well.”
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