Baku:The UK is prepared to offer at least £5 billion in financing for projects in Azerbaijan, as announced by UK Minister of State for Trade, Lord Anas Sarwar. This announcement was made during the 8th meeting of the Azerbaijan-UK Joint Intergovernmental Commission.

According to Azeri-Press news agency, UK Export Finance (UKEF) has expressed a willingness to assume significant financial risk in Azerbaijan. The goal is to identify and activate financing for key projects, particularly in infrastructure and clean energy sectors.

Lord Sarwar highlighted energy and connectivity, technology, and finance as promising areas for collaboration. Azerbaijan's strategic role in connecting regional economies and energy systems is expanding, with emphasis on renewable energy and new electricity connections. The minister cited the 'Shafag' Solar Power Plant by BP as a model of the evolving energy partnership.

The UK is eager to offer expertise in developing and financing major infrastructure projects, with companies like Xlinks and UKEF positioned to contribute. The potential for cooperation in technology was also noted, with Azerbaijan's digitalization ambitions aligning with UK research strengths.

Further collaboration between educational institutions, such as the University of Warwick, could enhance Azerbaijan's research and human resource capacities. Lord Sarwar also suggested exploring opportunities for Azerbaijani companies to engage with London capital markets, potentially through dual listings.