Shahbazov: ADB and AIIB allocate $2 million for feasibility study of Caspian Green Energy Corridor project

The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have allocated $2 million in technical assistance for the preparation of a feasibility study for the "Caspian Green Energy Corridor" project, Azerbaijan’s Minister of Energy, Parviz Shahbazov, said at a press conference.

According to Report, he recalled that the agreement on implementing the project for the Central Asia - Azerbaijan green energy corridor through the Caspian Sea was signed as part of COP29 in November 2024.

"Today, a decision was made to allocate funding for the feasibility study of this project. Three countries have signed an agreement with ADB and AIIB for the provision of $2 million in technical assistance," the minister said.