Azerbaijan, EBRD to boost green economy transition in years

Deputy Minister of Digital Development and Transport of Azerbaijan Samir Mammadov, and the Regional Head of the Caucasus for the European Bank for Reconstruction and Development (EBRD) Alkis Vriennios Drakinos discussed boosting the green economy transition from 2024 through 2029, Azernews reports, citing the Ministry of Digital Development and Transport of Azerbaijan.

The parties also discussed the preliminary draft of the new country strategy of the bank for Azerbaijan for the above period, including considerations for the transport sector.

"Drakinos informed the Azerbaijani side about the preliminary draft of the new country strategy of the bank, which reflects the priorities and goals of Azerbaijan for 2024-2029, including in the fields of digitalization and transport," the ministry noted.

The meeting also hosted an exchange of opinions on facilitating economic diversification through providing greater support to private sector management and state-owned enterprises in the transport sector and expanding regional opportunities.

"During the meeting, Mammadov discussed the work done in the digitalization and diversification of the transport sector in the country, the development of transport corridors, and other issues, as well as existing projects and plans for the future," the information stated.

To note, the EBRD actively finances infrastructure projects in Azerbaijan, and mutual cooperation has been successfully developing since 1992.