EBRD approves $100 million for Azerbaijan

The European Bank for Reconstruction and Development (EBRD) has approved $100 million (around 85.6 million euros) for Azerbaijan under its Green Economy Financing Facility (GEFF) to support “green” financing.

The funds will be used to provide loans to private companies implementing projects in energy efficiency, renewable energy, resource efficiency, circular economy and climate resilience.

The programme also includes up to $3 million in technical assistance and up to $4 million in concessional finance for financial intermediaries. GEFF will serve as a pilot initiative to introduce green financing in Azerbaijan and support the country’s transition to sustainable development.