BAKU, Azerbaijan, Feb. 5
By Sadraddin Aghjayev – Trend:
Currently, the European Bank for Reconstruction and Development (EBRD) has no projects in Azerbaijan's liberated territories, but the Karabakh region is of interest to the EBRD, Director of Energy and Natural Resources for Russia, the Caucasus, and Central Asia at the EBRD Aida Sitdikova told Trend.
“We are considering this region, and here it is also possible to establish cooperation on projects in the field of renewable energy sources (RES),” Sitdikova said.
According to her, the EBRD and Azerbaijan are negotiating on wind and solar energy projects.
“We want to carry out constructive work in this sector. Azerbaijan has great potential in the field of renewable energy. Moreover, we are discussing specific projects in the field of wind and solar energy with Azerbaijan,” the representative of the bank outlined.
At the beginning of 2022, the EBRD project portfolio in Azerbaijan was estimated at 801 million euros. Most of the project portfolio (88 percent, or 709 million euros) is directed to investments in sustainable infrastructure, nine percent or 73 million euros - to investments in industry, trade and the agricultural sector, and three percent, or 20 million euros accounts for financial institutions. In general, the bank has invested over 3.17 billion euros on 178 projects in Azerbaijan.
The EBRD is Azerbaijan's leading investor, which has been cooperating with the country since 1992.
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