The World Bank (WB) on Wednesday held a presentation ceremony in Baku for its report entitled “Azerbaijan: Towards Green Growth”.

The event was attended by representatives of the World Bank and UN offices in Azerbaijan, relevant state institutions, civilian societies, and educational centers, News.Az reports.

Speaking at the presentation ceremony, Sarah Michael, World Bank Country Manager for Azerbaijan, said the transition to the low-carbon economic model opens up opportunities for Azerbaijan to become competitive on both regional and global scales. She underlined the importance of expanding the application of innovations in Azerbaijan’s economy and developing natural and human capital in terms of benefiting from the existing opportunities.

Azerbaijan’s Deputy Minister of Economy Samad Bashirli said the country cooperates effectively with international financial institutions, including the World Bank. He noted that the World Bank’s report will be an important source for the preparation of strategic documents during Azerbaijan’s transition to a green economy and will contribute to the achievement of the goal of “a clean environment and country of green growth” envisaged in “Azerbaijan 2030: National Priorities for Socio-Economic Development”.

Bashirli stated that the implementation of obligations under the UN’s Sustainable Development Goals (SDG) is one of the important components of Azerbaijan’s state policy.

The deputy minister added that the restoration and reconstruction of the liberated Azerbaijani territories and their reintegration into the country’s economy are among the state’s top priorities.

The ceremony also featured a panel session that assessed potential opportunities for the transition to green energy in Azerbaijan.  

News.Az