EBRD to invest in Azerbaijan’s infrastructure and connectivity with new strategy

The European Bank for Reconstruction and Development (EBRD) has approved a new five-year strategy for Azerbaijan.

The new strategy is focused on investment and policy initiatives designed to boost the country's economy and green transition, Caliber.Az reports via local media outlets.

The EBRD outlined two main priorities for Azerbaijan in the strategy: “(I) promoting greater economic diversification through a stronger, more competitive and inclusive private sector and improved governance; and (II) accelerating the transition to a green economy and improving regional connectivity.”

A key part of the plan is leveraging Azerbaijan’s strategic location between Europe and Asia. The bank will focus on projects aimed at enhancing the Middle Corridor, investing in sustainable transport networks, digital connectivity, and municipal infrastructure.

Natalie Muravidze, the Head of the EBRD's Permanent Mission in Azerbaijan, commented on the approval of the new strategy: “I am delighted that our new strategy was approved by the Board the other day. We look forward to further strengthening our work in the Baku office. Over the next five years, we will work with Azerbaijan to build a diversified, inclusive and sustainable economy driven by innovation and a strengthened private sector. By harnessing Azerbaijan's renewable energy potential and strengthening its regional connectivity, we can create long-term opportunities for the country and its people. We already have a strong foundation for this.”

By Tamilla Hasanova