WB aims to support state reforms in Azerbaijan – regional manager

BAKU, Azerbaijan, The World Bank (WB) aims to support state reforms, stimulating investments to “green” technologies in Azerbaijan, Regional Manager for Azerbaijan Sara Michael said during the event on “Green transformation in Azerbaijan: Sustainable Development Goals”, Trend reports on November 2.


According to her, one of the most promising areas of development in Azerbaijan is the production of low-carbon hydrogen. The country has an extremely wide potential in this area.


At the same time, Azerbaijan has great opportunities in the field of alternative energy resources both on land and water as well as use of high technologies in its production and many other opportunities, Michael said.


“The WB welcomes the initiative of Central Bank of Azerbaijan on development of a roadmap for stable financing. However, it’s necessary to expand opportunities in this direction, because Azerbaijan has a high potential to become a world leader and innovator in the development of “green” energy,” she said.


The World Bank’s report “Azerbaijan: Towards “green” growth” said that “green” hydrogen has significant potential in countries with large renewable energy resources, such as Azerbaijan, and is expected to become competitive in terms of volume over time and cost.


Source: TREND News Agency

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