“Our investments in Azerbaijan have increased over the past three years, with 80% of last year’s funding directed toward the green economy,” said Natalie Muravidze, the European Bank for Reconstruction and Development’s (EBRD) Head for Azerbaijan during her speech at the Bank’s Annual Meeting held in London, APA reports.
Over $4 billion invested across nearly 200 projects
Muravidze highlighted that the EBRD has been a strong and long-term partner in Azerbaijan’s transition toward a more resilient, inclusive, and diversified economy. The Bank’s investments span key sectors such as energy, infrastructure, financial institutions, and support for small and medium-sized enterprises (SMEs).
“To date, we have invested over $4 billion in nearly 200 projects in Azerbaijan. In 2023 alone, we committed close to $200 million, of which 80% was directed to projects in the green economy,” she emphasized.
Beyond financing: supporting structural reforms
The EBRD representative stressed that the Bank’s engagement in Azerbaijan goes beyond financing. It also contributes significantly to the country’s structural reforms. Key initiatives supported by the EBRD include Azerbaijan’s first renewable energy auction, a Hydrogen Strategy Outlook, public-private partnership (PPP) legislation, and Green City planning for the city of Ganja.
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