The European Bank for Reconstruction and Development (EBRD) invested €196 million in 8 projects in Azerbaijan in 2024, “Caspian Energy Media” reports, citing EBRD.
Most of these investments were in the private sector, with 82 percent in the country's green economy, and in sectors ranging from energy and transport to financial institutions and small and medium-sized enterprises (SMEs).
Throughout 2024, the EBRD was Azerbaijan's one of the key partners supporting the country's decarbonisation ambitions. At United Nations Climate Change Conference (COP29) in Baku, the Bank co-financed the construction of the largest utility-scale solar power plants in the Caucasus, now surpassing 1.2 gigawatts of financed renewable energy in Azerbaijan.
