BAKU: Azerbaijan and the European Bank for Reconstruction and Development (EBRD) have discussed the regulation of resources to ensure energy efficiency, Azerbaijan’s Minister of Economy Mikayil Jabbarov wrote on X, Trend reports.

“During the meeting with representatives of the European Bank for Reconstruction and Development, we discussed the progress of preparations for COP29 to be held in Azerbaijan, the facilitation of dialogue with international organizations, and system regulation of resources to ensure energy efficiency,” the publication says.

According to the EBRD, the loan portfolio of EBRD projects in Azerbaijan was estimated at pound 911 million as of November 30, 2023. The majority of the portfolio (90 percent, or pound 820 million) is aimed at investments in sustainable infrastructure, seven percent (pound 64 million) at investments in industry, trade, and the agricultural sector, and three percent (pound 27 million) at investments in financial institutions.

To note, the EBRD has been cooperati
ng with Azerbaijan since 1992 and is the country’s leading investor.

Source: Trend News Agency