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EBRD offers Azerbaijan’s Ganja city "green project" worth $350 million

06 March 2020 [14:34] - TODAY.AZ

By Azernews


By Ofeliya Afandiyeva

The European Bank for Reconstruction and Development (EBRD) and Azerbaijan’s second largest city Ganja have signed an agreement on the implementation of a pilot project on the development of the city’s infrastructure, the official website of the EBRD reported on March 4.

The contract was signed between the EBRD First Vice President Jurgen Rigterink and head of Ganja Executive Authorities Niyazi Bayramov in Baku.

According to Rigterink, the EBRD is ready to support Azerbaijan in developing urban infrastructure and improving the environment.

Rigterink said that the bank has reached an agreement to implement a pilot project in Ganja city.

“Even last year, we proposed a “green project” worth $ 350 million to Azerbaijani government. I would like to note that, in my opinion, now Azerbaijani government is very interested in improving environment and reducing waste. We, in turn, offered the government support in this area, since we have the necessary experience in this area,” the EBRD First Vice President said.

As he stated, EBRD mission will arrive in Ganja soon to get acquainted with the city and determine the direction of activity.

“Ganja will become the 40th city to join our Green Cities programme. As part of the project, the EBRD is ready to assist Ganja in the operation of an Action Plan for setting priorities and solving environmental problems. The Bank is also willing to finance the modernization of street lighting, urban transport, water supply and wastewater services, solid waste management, district heating and renewable energy infrastructure,” Rigterink stressed.

More than 300,000 people living in Azerbaijan’s second-largest city could benefit from improvements in their urban environment, thanks to a partnership between the District Executive Authority and the EBRD, the official website of the ERBD informed.

Improving infrastructure and lives in Ganja was the focus of a meeting between and the EBRD First Vice President and the chief executive of Ganja.

It was mentioned that Ganja expressed its interest in joining the EBRD Green Cities, a successful urban sustainability programme that is already helping transform 40 cities across economies where the Bank invests.

The EBRD Green Cities project was conceived to offer tangible support that helps cities improve the quality of life of their residents. All participating cities embark on a trigger project to improve their local environment. Then, with the EBRD help, they develop an action plan to identify further investments and policy changes that are best suited to their needs.

Cities, which account for 70 percent of energy use and 80 percent of greenhouse gas emissions worldwide, represent a big opportunity to tackle climate change and environmental degradation. This is particularly true of cities in the EBRD regions, where obsolete urban infrastructure is degrading the quality of life, increasing greenhouse gas emissions and preventing communities from adapting to climate change.

The programme was launched in 2016 with just €250 million of funding.

EBRD has set out the following priorities in Azerbaijan for 2020-2024:

1) The Bank will continue its efforts to help diversify Azerbaijan’s economy by supporting the development of the private sector in non-oil sectors and strengthening governance of private and state-owned companies.

2) The EBRD will work to further expand access to finance for local businesses by encouraging lending by banks and non-bank financial institutions as well as by helping develop local currency and capital markets.

3) The Bank will step up its support to the country’s green economy, including financing for renewable energy sources, increased energy efficiency and cleaner transport and sustainable infrastructure.

The EBRD is an important institutional investor in Azerbaijan. Azerbaijan has been a member of the EBRD since 1992. To date, the Bank has invested €3.3 billion through 170 projects in the country. It also provides business advice to local small and medium-sized enterprises and has helped more than 1,000 firms to improve their performance and growth.







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