Baku. Aynur Aliyeva - APA-Economics. “The more Azerbaijan saves energy inside, the more it can export. The more producers use energy efficiency, the more competitive and exportable their products will be. European Bank for Reconstruction and Development (EBRD) is trying to develop business environment, eliminate obstacles in this sphere. Bank’s business model that uses for sustainable energy projects is based on three factors – investment, technical assistance and political dialogue”, said the head of EBRD Baku Office Nil McCain.
According to him, in 2006-2013, the EBRD invested €13 bln in 756 sustainable energy projects in 35 countries: “This makes 29% of bank’s activity for that period. With Energokredit project, the EBRD tries to increase investments in Azerbaijan. Bank has invested € 288 mln in Azerbaijan’s sustainable energy projects since 2006. I was very surprised because these were big projects. We already invest in this sphere as ¼ of portfolio in Azerbaijan again”.
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