Azerbaijani economy minister meets AIIB vice-president to bolster cooperation

Azerbaijani Economy Minister Mikayil Jabbarov recently met with Ludger Schuknecht, Vice President of the Asian Infrastructure Investment Bank (AIIB).

According to Caliber.Az, the press service of the Economy Ministry reported that the meeting highlighted the effective cooperation between Azerbaijan and AIIB since Azerbaijan joined the Bank in 2016.

The discussion emphasized the bank's support for infrastructure development in member countries and covered topics such as ensuring sustainable development, transitioning to a 'green economy,' supporting 'green energy,' and preparations for COP29. Opportunities for joint work and partnerships within COP29 were also explored, with information shared on priority projects in collaboration with the Bank.

Ludger Schuknecht praised the successful partnership between AIIB and Azerbaijan. He discussed AIIB's efforts to stimulate economic growth in the Asian region, its climate policy-based financing instruments, and a special fund window for underdeveloped member countries. Schuknecht also shared insights on new areas of cooperation that the Bank is interested in pursuing.

The meeting reviewed various aspects of bilateral cooperation, with both sides exchanging views on AIIB's recent strategies, planned activities, and the Bank's future directions in Azerbaijan.