Industry

EU allocates vast investments to Azerbaijan

BAKU, Azerbaijan, The European Union (EU) allocated 2 billion euros to Azerbaijan as part of the economic investment plan, the Delegation of the European Union in Baku told Trend.

 

Such priority investments will contribute to the government’s efforts to diversify the Azerbaijani economy further, create decent jobs across the country and promote inclusive rural development.

 

“The launch of the high-level working group on the Economic and Investment Plan is another clear sign of our close partnership with Azerbaijan. The Economic and Investment Plan is already delivering tangible benefits for the people of Azerbaijan with almost EUR 90 million being committed and a significant pipeline of investment projects being built. This includes investments towards upgrading street lighting in Ganja and supporting access to finance for small businesses across the country. With the launch of our joint working group, we can ensure that Azerbaijan and its people will benefit even more from the investment potential provided by the Economic Investment Plan”, said Director of the Department of Eastern Neighborhood of the European Commission’s Directorate Lawrence Meredith.

 

The Economic and Investment Plan is the investment pillar of the European Union’s Eastern Partnership policy. The Economic and Investment Plan supports the EU’s Global Gateway strategy in building sustainable and trusted digital, energy, and transport connections around the world.

 

Source: TREND News Agency