BAKU, Azerbaijan, January 27
By Amina Nazarli - Trend:
EU companies are among the largest investors in Azerbaijan, with significant investments in the oil and gas sector, Rainer Freund, Programme Manager of the EU Delegation to Azerbaijan told Trend.
“Renewable energy offers numerous opportunities, and there is a high level of investment in this field in Azerbaijan. The government has passed renewable energy legislation, creating a level playing field for investments,” he said.
In his words, the EU has launched the European Economic and Investment Plan, which is a virtual facility blending EU grants with loans for Eastern partnership countries including Azerbaijan.
“This facility is designed to attract investments in a variety of sectors many of which relate to greening the economy of Azerbaijan in line with a vision of 2030. These loans will be used in support of major projects in the area of transport, and digital. EU's focus is on helping Azerbaijan to become more resilient to climate change, which is a big issue, as well as to support overall greening of the economy,” he said.