Market approach support in certain sectors to help achieve green growth in Azerbaijan

By Trend

The key message of the World Bank’s "Azerbaijan: Towards Green Growth" report is to support private investments in green economic sectors, Kseniya Lvovsky, Practice Manager for Environment, Natural Resources, and Blue Economy in the Europe and Central Asia Sustainable Development Department of the WB, told Trend.

According to the expert, this could be achieved through a combination of strong policies, regulation, innovative financing mechanisms and public-private partnerships.

Supporting market approach in the sectors that use renewable nature resources such as agriculture, water management, forestry, fisheries and marine culture will be of great importance to achieve green economic growth, she noted, adding that, at the same time, those sectors have high potential for jobs growth.

"Green transformation is a long way off, and it requires a long-term vision, backed by concrete strategies with short-, medium- and long-term measures, and, in terms of policy reforms, it is important to begin the implementation without delay. I think that Azerbaijan has a high human, technical and investment potential for successful implementation of these reforms," she said.