Azerbaijan, IFC consider expanding collaboration for COP29 UPDATED

Azerbaijan and the International Finance Corporation (IFC) have discussed the creation of green energy zones.

The discussions were held as Azerbaijan’s Minister of Economy Mikayil Jabbarov met with the corporation's global director for climate business, the head of the COP group Jamie Ferguson, Caliber.Az reports.

The sides discussed COP29, which will be held this year in Azerbaijan, development of cooperation on green transition, energy security and public-private partnership.

Noting the multi-vector relations with IFC, the minister emphasized the importance of cooperation in the small and medium-sized businesses development, public-private partnership and other areas. It was noted that the implementation of projects with IFC in such areas as energy efficiency, creation of green energy zones and waste recycling not only corresponds to the strategic development goals of Azerbaijan, but can also contribute to regional development.

Congratulating Azerbaijan on holding this year's COP29, Jamie Ferguson underlined IFC's constant readiness to support the country, and positively assessed the socio-economic reforms implemented in Azerbaijan to achieve national development goals.

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Azerbaijan and the International Finance Corporation (IFC) have discussed the enhancement of their cooperation for the COP29 climate change conference, Minister of Economy Mikail Jabbarov wrote on X.

The discussions took place at a meeting with the corporation's global director for climate business, the head of the COP group Jamie Ferguson, Caliber.Az reports citing the minister's message.

Beynəlxalq Maliyyə Korporasiyasının (@IFC_org) #iqlim biznesi üzrə qlobal direktoru, #COP üzrə tapşırıqlar qrupunun rəhbəri Cemi Fergüsson ilə qurumla ölkəmiz arasında əməkdaşlığın gündəmində olan məsələləri müzakirə etdik:

– #Yaşılenerji-yə keçidin və enerji təhlükəsizliyinin… pic.twitter.com/Wx3fCtVNG7

— Mikayil Jabbarov (@MikayilJabbarov) February 2, 2024

The parties discussed the transition to "green energy" and supporting energy security, expanding areas of cooperation with IFC on COP29, and promoting public-private partnerships.