EBRD approves $4 million loan for first EDGE-certified warehouse in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) is boosting transit capacity and import and export cargo capacity in Azerbaijan, Report informs.
The Bank is providing a senior secured loan of up to US$ 4 million to West & East Forward LLC (WE Forward) and Alat Bay Industrial Development AFEZCO (Alat Bay) for the construction of a cold and dry warehouse with a 5,000-tonne storage capacity.

The investment addresses the shortage of commercial cold storage warehouses in Azerbaijan. It is also set to enhance the flow of goods to, and via, Azerbaijan by reducing the cost and time of delivery between the Black Sea ports of Georgia and Baku. This means fewer truck trips to transport temperature-controlled goods and, therefore, fewer transport-related carbon emissions.

The EBRD will support the use of sustainable refrigeration technology and green elements in the construction design with grant facilities. As a result, the storage facility is set to become the first EDGE-certified (Excellence in Design for Greater Efficiency) building in Azerbaijan.