The second sitting of the working group on energy cooperation of the Black Sea Economic Cooperation Organization (BSECO) member states will be held tomorrow, on 14 February in Baku. With the country being the coordinator, the meetings of the ministers take place in Azerbaijan for the second time, deputy Foreign Minister of Azerbaijan Mahmud Mammadkuliyev told Trend . The responsibility for the event is laid on the Azerbaijan Ministry of Industry and Energy.
Debating of the issues related to the Baku Declaration implementation signed by the sides in 2005, specific projects and the events for enhancement of the cooperation are planned to be discussed at the meeting.
Based on the decision adopted there the Black Sea Bank for Trade and Development (BSBTD) funds may be allocated for the BSECO projects. BSBTD was established just for funding the regional projects, however, solution of two issues is required for that: clearly expressed political line of the states where this or that project will be implemented. The project development foundation, established within BSECO envisions allocating funds for the Feasibility Study preparation. BSBTD is operating commercially and even if it does not fund the projects there will be serious sponsors. Among them, international finance institutions, the European Commission, the governments of Japan, Netherlands, the Kuwait Development Fund. Additional investments may be involved at the consequence of the entire process.
Participation of the BSECO 12 member states ministers is expected at the sitting.