Supporting the creation of a pool of qualified IT specialists in Azerbaijani cities will help attract investment in the ICT sector and contribute to job creation and the overall sustainable and inclusive economic growth, Kamola Makhmudova, the head of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan, said during the event on the launch of the IT Hub Azerbaijan, according to Report.
"Guaranteed remote employment with global ICT firms will ensure that young people from the regions are included in the workforce and that regions themselves benefit from positive spillovers of this process," Makhmudova said.
She noted that the IT Hub project is particularly exciting as it helps attract investment into areas outside Baku and creates employment opportunities there.
"The students will come from regional cities in Azerbaijan, mostly Ganja and Nakhchivan Autonomous Republic, but from other regional cities as well, such as Sumgait, Lankaran, Mingachevir, and Shirvan," she said.
The project was launched in cooperaation with the Center for Coordination and Analysis of the Fourth Industrial Revolution (4SIM), EBRD and StrategEast.
She again noted EBRD's commitment to support Azerbaijan in strengthening its investment climate.
According to Makhmudova, in Azerbaijan, EBRD has invested USD 3.6 billion through 157 projects with 54% in the private sector: "2022 was a year of many firsts for us: We financed our first circular economy project, made our first investment in the TMT sector, and co-financed the first utility-scale solar power plant in the country. We proudly invested €86 million in Azerbaijan, channelling finances and technical expertise towards inclusive growth and digitalisation. 71% of these funds went into the green economy. We are thankful for support from our partners, which is key to success for all projects that we support in the country."