IFC to continue providing support for Azerbaijan's green economy transition

By Trend

International Finance Corporation (IFC) will continue providing support to Azerbaijan on its path to green economy transition, IFC’s Regional Manager for the South Caucasus Ivana Fernandes Duarte told Trend.

"Climate change, renewables, including solar, offshore and onshore wind are the strong focus in our cooperation with Azerbaijan," she said.

According to regional manager, IFC will also be supporting economy diversification, new jobs creation out of an oil and gas sector in order to boost Azerbaijan’s green economy transition.

Also, IFC is very keen to provide private sector expertise and support the government in the offshore wind development initiative.

"I would like to highlight the Offshore Wind Roadmap for Azerbaijan, developed jointly by the Ministry of Energy of the Republic of Azerbaijan, the WB, and the IFC. Azerbaijan has the potential to install 7GW of offshore wind power by 2040," she added.