BAKU, Azerbaijan, September 11. The European Bank for Reconstruction and Development (EBRD) will be glad to welcome more Azerbaijani cities in its EBRD Green Cities program, EBRD First Vice President Jürgen Rigterink, told Trend in an exclusive interview.
"This program is attracting more and more cities with over 50 participating now to sustainably address their infrastructure and environmental problems. Ganja is the only city in Azerbaijan that has joined the program so far and we have already signed two projects there," he said.
As Rigterink explained, the first is set to improve the city’s solid waste management, improving the environment and public health. The second aims to modernize the city’s street lighting leading to significant energy savings and better road safety.
"We are proud to be improving the urban environment for more than 300,000 people in Azerbaijan’s second largest city, but we would be delighted if even more cities joined. If, and when, requested by the relevant authorities, we will be happy to evaluate investment opportunities in other regions of Azerbaijan as well," he concluded.
Ganja, the second-largest city in Azerbaijan located in the west of the country, joined EBRD Green Cities in 2020.
Over the course of its engagement, the Bank has contributed a cumulative sum of more than 3.4 billion euros, spread across a spectrum of 188 projects within Azerbaijan. Having established its presence in Azerbaijan since 1992, the EBRD stands as the largest investor in the nation. Looking ahead, there is an anticipated investment project portfolio of $750 million slated for the next three years. The Bank is poised to invest $300 million throughout 2023 across diverse industries. These include but are not limited to energy, transportation, the private sector, small and medium-sized enterprises (SMEs), as well as the banking industry.
