Azerbaijan’s role in international aid and climate financing spotlighted at OECD meeting

On March 20, the 54th high-level meeting of the Development Assistance Committee (DAC) of the Organisation for Economic Cooperation and Development (OECD) took place in Paris.

The meeting brought together representatives from over 50 countries and approximately 15 international organizations, including more than 30 traditional donor countries that are members of the DAC, as well as participant and partner countries such as Azerbaijan, Saudi Arabia, Qatar, Bulgaria, Croatia, South Africa, and India, Azerbaijani Foreign Ministry told Caliber.Az.

Azerbaijan was represented by the Azerbaijan International Development Agency (AIDA), which operates under the country’s Ministry of Foreign Affairs. This participation was confirmed by the press service of the Azerbaijani Ministry of Foreign Affairs.

The primary focus of the annual meeting was to discuss strategies for improving the quality and impact of international development assistance. Participants aimed to enhance bilateral and multilateral cooperation, as well as to mobilize additional financial resources to support sustainable development across the globe.

During the event, AIDA head Elmeddin Mehdiyev took the opportunity to showcase Azerbaijan's significant achievements and experience in the field of international aid, positioning the country as a rising donor nation. Mehdiyev highlighted Azerbaijan’s active role in the global community and its commitment to international aid. He also underscored the relevance of Azerbaijan's experience with climate financing, particularly in light of the country’s leadership at COP29.

COP29, held in Baku from November 11 to 22, 2024, was a landmark event in global climate negotiations. The conference, which attracted around 70,000 participants — including political leaders, environmental experts, and representatives from the private sector and civil society — was a pivotal moment for the global climate response. One of the key outcomes of COP29 was the introduction of the Baku Finance Goal (BFG), a bold new commitment to allocate $1.3 trillion annually in climate finance to developing nations. This goal aims to triple the previous climate finance target and is seen as an essential step in supporting developing countries to address climate change challenges.

The BFG includes a pledge by developed countries to allocate at least $300 billion annually for climate projects in developing nations. This financial commitment is expected to significantly increase global investments in climate change mitigation and adaptation, accelerating efforts to address the environmental impacts of climate change.

In his address, Mehdiyev pointed out that the outcomes of COP29 are crucial not only for addressing climate change but also for strengthening the development assistance sector. He expressed hope that the lessons and strategies developed in the context of climate financing would be applied to broader international development initiatives, helping to address pressing challenges faced by developing countries.

By Tamilla Hasanova