Azerbaijan has shown significant economic growth in recent years: WB regional manager
Azerbaijan has shown significant economic growth in recent years, World Bank (WB) Regional Manager for Azerbaijan Sara Michael said on Wednesday.
She was speaking at a conference on “Green transformation in Azerbaijan” held in Baku.
Sara Michael stressed that Azerbaijan has the potential to become the world leader in "green" transformation.
“Azerbaijan has shown significant economic growth in recent years. However, climate change creates new challenges. At the same time, Azerbaijan is on the right track for a "green" transition and has the prospect of becoming a world leader in this direction,” she said.
According to Michael, the WB published a report on the assessment of "green" growth in Azerbaijan, which noted a high potential in the development of "blue economy", particularly, in the areas of biotechnology and bioeconomy, offshore renewable energy, including offshore wind power, floating solar photovoltaic plants, and many other opportunities.