Azerbaijan spotlights climate finance at global forum

At the Fourth Global Conference on Financing for Development, held in Seville, Spain, Azerbaijan hosted high-level events focused on international development aid and climate finance.

On July 1, Azerbaijan’s Ministry of Foreign Affairs, through its AIDA agency, co-organized a session in partnership with the UN Office for South-South Cooperation and the OECD Development Assistance Committee. Discussions focused on the role of new development partners in achieving the Sustainable Development Goals (SDGs) and fostering inclusive cooperation models.

Azerbaijan's “Baku Hub,” launched during COP29, was highlighted as a platform for sharing experience between the Global South and North, especially in climate-sensitive and conflict-affected countries.

On July 2, COP29 President and Special Envoy for Climate Issues Mukhtar Babayev emphasized the importance of climate finance and the impact of decisions made in Baku. MFA representative Elshad Iskandarov introduced Baku Hub as a mechanism to support vulnerable nations through targeted financial initiatives.

The conference is held once a decade, and this year brings together delegates from 164 countries and 49 international organizations.