Mikayil Jabbarov: Azerbaijan is committed to developing green transition

The investments of the European Bank for Reconstruction and Development (EBRD) are crucial in accelerating global economic growth and the green transition, Azerbaijani Minister of Economy Mikayil Jabbarov said at the Plenary Session of the EBRD's Board of Governors, Report informs.

"Azerbaijan is committed to addressing global challenges and advancing the green transition. Our country demonstrated global leadership by hosting COP29 and reached a landmark agreement to triple climate finance for developing countries. This agreement provides for $300 billion in climate finance for those countries annually by 2035," Jabbarov said.

The event provided information about Azerbaijan's strategic role in the international energy and trade platform, its initiatives and opportunities for cooperation in these areas.

The event emphasized the EBRD's continued support to its member countries. It was noted that the past year was remarkable for large investments and projects for the EBRD, which demonstrates the Bank's growing influence in the international financial sphere. Cooperation with the EBRD in areas such as the development of public-private partnerships and expanding support for small and medium-sized enterprises is particularly important.