EBRD boosts financing for projects in Azerbaijan 26% in 2024

BAKU. Jan 29 (Interfax) - The European Bank for Reconstruction and Development (EBRD) provided loans totaling 196 million euros to implement eight projects in Azerbaijan in 2024, the EBRD told Interfax.

The EBRD invested 196 million euros in eight projects in Azerbaijan in 2024, with 82% of the investments allocated to green economy projects in sectors such as energy, transport, and finance, the bank said.

The EBRD provided loans totaling 156 million euros to finance two projects in Azerbaijan in 2023, thus increasing the volume of financing 25.6% year-on-year in 2024.

Azerbaijan has been a member of the EBRD since 1992, during which time the EBRD has allocated over 4 billion euros to finance 195 projects in the country.