By Trend

The European Bank for Reconstruction and Development Bank (EBRD) eyes expanding green investments into new cities in Azerbaijan, Kamola Makhmudova, head of EBRD in Azerbaijan, said in an exclusive interview with Trend.

"EBRD Green Cities is a flagship programme that has gained tremendous popularity in recent years. At present, more than 50 cities have joined this unique programme to address their infrastructure and environmental challenges in a sustainable and resilient manner. As you know, Ganja is the first and, so far, the only city in Azerbaijan to join EBRD Green Cities, and this year we signed two projects there. These projects will help the city address shortcomings in solid waste collection and street lighting infrastructure," she added.

Makhmudova noted that EBRD launched the preparation of the Green City Action Plan for Ganja city, which is expected to be ready next year.

"The action plan will contain a comprehensive list of infrastructure investments and policy measures to address the most acute problems that Ganja residents are facing. In parallel, we are in touch with the Ministry of Economy of Azerbaijan to expand the Bank’s green and low-carbon investments into new cities and infrastructure sectors. Together with the Ministry, we are reviewing a couple of new projects in Ganja city and in other parts of Azerbaijan. We will publish more information about these projects once preparation progresses," she explained.

Azerbaijan jointed the EBRD on 25 September 1992. In Azerbaijan the EBRD focuses on:

Helping diversify Azerbaijan’s economy by supporting the development of the private sector in non-oil sectors and strengthening governance of private and state-owned companies.

Further expanding access to finance for local businesses by encouraging lending by banks and non-bank financial institutions as well as by helping develop local currency and capital markets.

Supporting to the country’s green economy, including financing for renewable energy sources, increased energy efficiency and cleaner transport and sustainable infrastructure.