Azerbaijan, EBRD mull prospects of platforms to strengthen partnership

The prospects of platforms to strengthen Azerbaijan-European Bank for Reconstruction and Development (EBRD) partnership were discussed at the meeting between Azerbaijani Economy Minister Mikayil Jabbarov and EBRD First Vice President Jurgen Rigterink ahead of COP29 held in Baku, Report informs, citing the ministry.

The meeting highlighted Azerbaijan's hosting of COP29, active participation in global climate action, and successful partnership with EBRD in various directions.

It was noted that the promotion of the green economy holds an important place in Azerbaijan's socio-economic development goals. During the meeting, discussions were held on strengthening joint activities with the EBRD in the green economy, renewable and alternative energy sources, supporting public-private partnerships, and steps to be taken for implementing infrastructure and other projects. The importance of diversifying cooperation in the energy sector towards low-carbon solutions was emphasized.

Jurgen Rigterink noted the EBRD's effective cooperation with the country and the importance of activities carried out within COP29. He stated that Azerbaijan's rich economic potential creates prospects for expanding relations and that the EBRD's support to Azerbaijan will continue.

The parties exchanged views on the benefits of Azerbaijan-EBRD relations for sustainable development and effective climate action, as well as the prospects of joint projects.