World Bank affirms readiness to support Azerbaijan in electricity projects
The World Bank is prepared to work with Azerbaijan in the fields of power and geothermal energy, according to WB Senior Energy Specialist Florian Kitt.
Kitt made this announcement during the Azerbaijan & Central Asia Green Energy Week 2025 in Baku on Thursday, News.Az reports, citing local media.
He affirmed the bank's readiness to replicate its successful experience of providing single-source guarantees, which it previously used for the Southern Gas Corridor project in conjunction with SOCAR.
"We have consolidated all guarantee operations under the auspices of the Multilateral Investment Guarantee Agency (MIGA), which allows us to provide them from a single source. We have done this very successfully for the Southern Gas Corridor in conjunction with SOCAR, and now we want to use this mechanism in the power sector as well. We also hope to support new projects, for example in geothermal energy, where we can truly assist with financing," he added.
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