BAKU: Japan International Cooperation Agency (JICA) is interested in the reconstruction of Azerbaijan’s Karabakh region, a source in the company told Trend.

“The long-term development policy of the government of Azerbaijan clearly states a vision for competitive economic development based on the innovation of sophisticated technologies and human resource development. Japan’s assistance can

play a significant role in Azerbaijan during its transition period. As part of the global development trend, the main challenges for Azerbaijan are: economic diversification, elimination of dependency on hydrocarbon exportation, rapid growth of the non-oil sector, and the increase of efficiency and comparative advantage in the production processes through new technologies,” said JICA.

The source went on to add that among areas for future collaboration and partnership, JICA considers support for strengthening the logistics functions of the Caspian Sea route in Central Asia and the Caucasus region and Green Energy Developm
ent.

“As for future challenges, JICA is interested in the reconstruction and development of Karabakh, and plans to discuss with the Japanese government on areas and projects in which JICA can cooperate, while also looking at the bilateral peace

agreement and efforts to resume economic activities,” noted the source.

JICA is the biggest bilateral development aid organization in the world, with an annual operating budget of over $15 billion. Not only for Azerbaijan, JICA has also contributed a lot to world development. JICA plays a significant role as Official Development Assistance for Japan.

JICA serves as Japan’s ODA’s “one-stop shop,” offering a variety of services such as grants, financing and investment, volunteers, technical cooperation, and private sector partnerships. As one of the world’s largest bilateral aid agencies, JICA operates in more than 150 countries and regions and has approximately 90 overseas offices.

Source: Trend News Agency