According to the Ministry of Energy, Deputy Minister Elnur Soltanov noted Azerbaijan's long-term cooperation with the EBRD in various fields, including in the energy sector.
The parties highlighted the importance of the ongoing project "Strengthening the transmission network to ensure the integration of renewable energy sources into the network" in the context of expanding the use of green energy.
In addition, the analysis carried out related to integration in the field of green energy was discussed at the meeting.
The EBRD's loan portfolio for projects in Azerbaijan has reached a total of 787 million euros as of July 31, 2023. This portfolio encompasses 31 distinct projects that the EBRD is actively involved in. In addition, the bank predicts that the real gross domestic product (GDP) in Azerbaijan will grow by 1.5 percent this year compared to last year.
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