BAKU, Azerbaijan, September 1. The European Bank for Reconstruction and Development (EBRD) will provide a loan of up to $4 million to the Azerbaijani W&E Forward logistics company and Alat Bay Industrial Development LLC (AFEZCO) for a project of the construction of a warehouse with a 5,000-ton storage capacity, Trend reports via the EBRD.
According to the bank, this project can be the first in Azerbaijan to receive a certificate of Excellence in Design for Greater Efficiency (green building certification system).
The project’s implementation will enhance the flow of transit and import goods by reducing the cost and time of delivery between the ports of Georgia and Baku, added the bank.
The EBRD has been cooperating with Azerbaijan since 1992 and is the country's leading investor. Overall, the bank has invested 3.1 million euro to implement 181 projects in Azerbaijan.
The largest part of the project portfolio is directed to investments in sustainable infrastructure, as well as investments in industry, trade and the agricultural sector, including financial institutions.
