BAKU, Azerbaijan, November 16. The key sector in Azerbaijan is the renewable energy sector, Chair of the Small Business Investment Committee of the European Bank for Reconstruction and Development (EBRD) Andrew McDonald said at the SME World Forum, held in Baku, Trend reports.
“The government seeks to diversify the economy away from heavy dependence on oil and gas, and attracts reliable foreign direct investors, such as ACWA Power and Masdar, who really implement projects at a high level, according to high international standards, and which provide a really high-quality transition to renewable energy sources,” McDonald said.
The EBRD is an important institutional investor in the Caucasus region. The bank has invested more than 3.6 billion euros in 188 projects in Azerbaijan and is focused on helping the country diversify its economy and support its green climate goals to date.
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