Azerbaijan has great potential to become a leader in the transition to a green economy - EBRD manager

By
LEMAN ZEYNALOVA

Azerbaijan has great potential to become a leader in the transition to a green economy - EBRD manager

The head of the EBRD office in Azerbaijan Kamola Mahmudova: “Almost half of our investments are now in green energy. From the end of 2022, all EBRD activities will be in line with the Paris Agreement. We work with governments and the private sector to help countries advance their transition agendas and fulfill their commitments under the Paris Agreement. In London and Baku, we have significant human and technical resources to support such complex national goals. We rely on strong donor support to complement our operations through the EBRD's unique business model that combines investment, concessional financing, policy participation and technical support”.

Photo: EBRD – Azerbaijan

Azerbaijan has great potential to become a leader in the transition to a “green” economy, since the government understands the possibilities of renewable energy sources and the importance of creating sustainable infrastructure, the head of the EBRD office in Azerbaijan Kamola Mahmudova said in an exclusive interview with Trend.

She noted that the current approach of Azerbaijan in this area is balanced, proactive and practical.

“The strategic priorities of the European Bank for Reconstruction and Development in Azerbaijan are outlined in its country strategy for the period 2019-2024. Broadly, they include promoting economic diversification, developing capital markets and supporting the transition to a green economy and regional connectivity. Our activities cover areas such as infrastructure, transport, manufacturing and services, agribusiness and many others, and we rely on a wide range of tools to meet the financial needs of public and private partners”, Mahmudova stated.

She added that the EBRD is among the world's leaders in climate finance.

“Almost half of our investments are now in green energy. From the end of 2022, all EBRD activities will be in line with the Paris Agreement. We work with governments and the private sector to help countries advance their transition agendas and fulfill their commitments under the Paris Agreement. In London and Baku, we have significant human and technical resources to support such complex national goals. We rely on strong donor support to complement our operations through the EBRD's unique business model that combines investment, concessional financing, policy participation and technical support”, Mahmudova said.

Source: https://www.trend.az/business/energy/3512228.html