BAKU, Azerbaijan, October 9. The Multilateral Cooperation Center for Development Finance (MCDF) and the Asian Infrastructure Investment Bank (AIIB) have provided $1.1 million in grants for two green energy projects in Azerbaijan.
Azerbaijan’s Energy Minister Parviz Shahbazov announced the agreements in a post on his X account.
“We signed grant agreements totaling $1.1 million for two major green energy projects with the Asian Infrastructure Investment Bank (AIIB), as the implementing partner of the Finance Facility of the Multilateral Cooperation Center for Development Finance (MCDF). This financial support will be directed toward preparing the Caspian Green Energy Corridor project and conducting a conceptual study on coastal infrastructure to support the development of large-scale offshore wind energy. Our cooperation will contribute to harnessing Azerbaijan’s renewable energy potential, expanding green energy export opportunities, and strengthening regional energy connectivity,” the post said.
Will be updated
