"The support that banks need to provide is first of all technical assistance to prepare projects. They need to provide where applicable concessional finance and they need to support the implementation of the projects," Lin O'Grady, Deputy Head of the Sustainable Infrastructure Group of the European Bank for Reconstruction and Development and head of the EBRD Green Cities program, APA reports.
She noted that EBRD has created a facility specifically dedicated to financing green sustainable cities, and sustainable projects in cities. We call that EBRD Green Cities and it spans the EBRD's country of operation. It combines strategic planning through the development of a green city action plan with investment."
"And just so far, 3 billion has been invested in 90 projects, in 25 countries. One of those countries that we invest in, in part of this project, is Azerbaijan. There is a completed Green City Action Plan in Ganja and a number of investments have been supported including water and street lighting. So Azerbaijan is a very good example of how this program works," she added.
Mirvari Azizova
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