EBRD: Azerbaijan may become regional leader in renewables

The European Bank for Reconstruction and Development (EBRD) is at the final stage of signing a project on wind and solar energy with Azerbaijan this summer.

Kamola Mahmudova, head of the EBRD permanent mission in Azerbaijan, made the remark at the 24th annual meeting of the BSTDB (Black Sea Trade and Development Bank) held on June 23 in Baku, Report says.

She noted that Azerbaijan can become a leader in renewable energy in the region. Mahmudova also noted Ganja's participation in the EBRD program "Green Cities".

Thus, according to her, the Bank will continue supporting the diversification of the country's economy, and the transition to a green economy.

Mahmudova said that in its work the bank takes into account the current regional situation, food security is also an important issue, and Azerbaijan can play an important role in this.

EBRD's permanent representative in Azerbaijan noted that the Bank continues to support mainly the private sector and young people in the country.

Mahmudova also said that they are working on the visit of the EBRD President to Azerbaijan.