Bank Respublika, one of the largest commercial banks in the country,
and the European Bank for Reconstruction and Development (EBRD) have signed a
loan agreement to finance projects aimed at supporting the green economy in
Azerbaijan.
The loan was provided in cooperation with the European Union within
the European Fund for Sustainable Development Plus (EFSD+) programme. According
to the agreement, the international financial institution will provide Bank
Respublika with a synthetic loan in Azerbaijani manats (AZN) equivalent to USD
7.5 million with a tenor of 3 years.
The loan funds will be directed towards supporting small and
medium-sized enterprises (SMEs) that are implementing environmentally friendly
technologies and production methods. These include projects aimed at improving
energy efficiency, utilizing renewable energy sources, minimizing waste, and
reducing the carbon footprint.
The goal of this collaboration is to support sustainable development
and facilitate the transition to a green economy in Azerbaijan. The loan will
serve as an important resource for implementing environmental projects,
improving business infrastructure, and encouraging businesses that are focused
on environmentally responsible solutions.
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