Azerbaijan and AIIB Discuss Green Electricity Market Expansion
Azerbaijan and the Asian Infrastructure Investment Bank are planning a multi-year investment program to develop renewable energy and a regional green electricity market.
The Asian Infrastructure Investment Bank (AIIB) and the government of Azerbaijan are negotiating a multi-year investment program to accelerate the country's transition to a green economy. During the bank's 11th Annual Meeting in Doha, Azerbaijan's Minister of Economy Mikayil Jabbarov met with AIIB President Zou Jiayi and participated in a Governor’s Roundtable to discuss sustainable growth and regional integration.
A primary focus of the cooperation is the creation of a green electricity market between Azerbaijan and its neighboring countries to enhance cross-border connectivity. The AIIB, which has already funded large-scale solar projects in Azerbaijan, aims to use its involvement to attract higher volumes of private capital for electric mobility and green infrastructure.
Senior economist Conor Barry noted that the bank is working toward increasing its total climate finance share to 70%. The proposed investment program is intended to better define priority areas for future cooperation, aligning the bank's resources with Azerbaijan's national development goals for infrastructure and renewable energy.
