EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

The EU, through its structures, will allocate 10 billion euros for the development of the Trans-Caspian International Transport Route (TITR), European Commissioner for Trade Valdis Dombrovskis said on January 29 in Brussels at the Global Gateway global investment forum.

Trend reported this on Monday with reference to Dombrovskis’s page on social networks.

The European Bank for Reconstruction and Development (EBRD) is preparing a market study report on Low Carbon Hydrogen Economy in Azerbaijan, Kamola Makhmudova, head of EBRD in Azerbaijan, said in an exclusive interview with Trend.

"The market study report on Low Carbon Hydrogen Economy in Azerbaijan is currently being prepared and we are expecting that this report will be finalised in the upcoming months," she said.

Azerbaijan has put forward proposals on potential projects in the field of renewable energy and energy efficiency within the European Commission’s document entitled “Recovery, resilience and reform: post 2020 Eastern Partnership priorities”, reports the Azerbaijani Energy Ministry on Nov. 19.

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.

Preparations to tackle the legacy of former uranium mining sites in Uzbekistan can begin, following the signing of a grant agreement today between the Environmental Remediation Account for Central Asia (ERA) and the government of Uzbekistan.

The €2 million grant will support a recently established Project Management Unit (PMU), which will be dealing with the environmental remediation of the former uranium mining sites at Yangiabad and Charkesar, located in the mountains east of the Uzbek capital Tashkent.

Kazakhstan looks forward to continuing cooperation with the EBRD in the field of renewable energy sources, Kazakh President Kassym-Jomart Tokayev said, Trend reports with reference to the Kazakhstan presidential press service.

Tokayev made the remark during a meeting with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso.
During the meeting, the results of the EBRD’s activities in Kazakhstan and priorities for further cooperation were discussed.

The European Bank for Reconstruction and Development (EBRD) is strengthening Azerbaijan’s agribusiness sector with a €25 million loan to Avrora LLC, a leading producer of pasta, confectionery, soft drinks and flour products, Trend reports citing EBRD.

The loan will be provided in Azerbaijani manat in two equal tranches. The first tranche will be used to finance a new pasta production line. The second will be used for the acquisition of new equipment for the production of biscuits, cakes and animal feed.

The European Bank for Reconstruction and Development (EBRD) and Kazakhstan have agreed to develop a long-term cooperation strategy to achieve carbon neutrality of the country’s power sector by 2060. The accord will further cement Kazakhstan's status as a regional renewable energy leader in Central Asia.

The roadmap for the decarbonisation strategy was signed by Kazakhstan’s Minister of Energy Nurlan Nogayev and by EBRD President Odile Renaud-Basso on March 31st, 2021, during her first visit to Central Asia’s largest state.