European Investment Bank commits to supporting Azerbaijan’s green economy transition
The European Investment Bank (EIB) has expressed its commitment to supporting Azerbaijan’s sustainable development within the framework of the European Union’s Economic and Investment Plan for Azerbaijan.
"In line with the European Union’s Economic and Investment Plan for Azerbaijan, the European Investment Bank (EIB) stands ready to support the country’s green transition. We are prioritizing clean energy and sustainable transport investments, as well as digitalization and access to finance for small and medium-sized enterprises," the bank said, News.Az reports, citing local media.
"As a demand-driven institution, if there are projects in Azerbaijan that would benefit from our financing and meet EU policy goals and our standards, we stand ready to consider supporting them. EIB Global – the EIB’s global arm – regularly discusses areas of cooperation with the relevant stakeholders in the country," it noted.
The EIB Global division is responsible for international activities and financing for sustainable development. It supports the implementation of three priority EU initiatives - the European Green Deal, the Global Gateway strategy, and support for employment and inclusive growth.
The bank added that in Azerbaijan, key areas of cooperation remain projects in the field of energy diversification, modernization of transport infrastructure and the transition to more sustainable economic models.
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