The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new country strategy for Azerbaijan to build a diversified, inclusive and sustainable economy.
For the next five years, the Bank will seek to help Azerbaijan harness its untapped solar and wind power potential, including by strengthening the electric grid and supporting renewable energy exports, and further enhance the country’s sustainability and climate resilience. Additionally, it will continue to focus on supporting greater economic diversification and private sector development by providing financial assistance to the non-extractive sector and SMEs, encouraging exports and strengthening regional connectivity to foster sustainable growth, the Bank’s press-release said.
According to the strategy, EBRD will channel investment and advisory support to small and medium-sized enterprises in non-oil sectors such as agribusiness, manufacturing and services, information and communication technology, and infrastructure.
It will also focus on empowering female- and youth-led enterprises, supporting innovation and expanding export capabilities through greater competitiveness, while continuing to work with government entities to strengthen corporate governance, advance reforms to state-owned enterprises and improve the overall business climate.
The EBRD will help Azerbaijan to capitalise on its geographical location between Europe and Asia as the government is pursuing a number of multimodal projects to better connect the country to international transport networks. The Bank will invest in sustainable transport networks, municipal infrastructure and digital connectivity, with a particular focus on projects linked to the Middle Corridor.
Nataly Mouravidze, the EBRD’s Head of Azerbaijan, said: “Over the course of the next five years, we will work with Azerbaijan to build a diversified, inclusive and sustainable economy that is driven by innovation and private-sector growth. By tapping into Azerbaijan’s renewables potential and enhancing its regional connectivity, we can unlock long-term opportunities for the country and its people. We already have a strong foundation to build on.”
The EBRD is the largest institutional investor in Azerbaijan. To date, the Bank has invested over €4 billion in Azerbaijan across 195 projects in sectors including renewables, connectivity and sustainable infrastructure.
Iranian sailors who survived a U.S. submarine strike in the Indian Ocean were recovering at a hospita...
A power outage struck most of Cuba, including Havana, the state electric utility said on Wednesday (5 Marc...
Tensions across the Middle East are escalating following coordinated U.S. and Israeli strikes on Iran and Tehran’s retaliatory attacks, with ...
The White House says deploying United States ground troops in Iran is not currently part of the military strategy in ...
Israel has warned residents to leave a significant area in southern Lebanon, instructing them to move north of the Li...
Azerbaijan’s President Ilham Aliyev highlighted the country’s expanding gas exports to Europe and its renewable energy ambitions during the Southern Gas Corridor Advisory Council’s 12th Ministerial Meeting and the Green Energy Advisory Council’s 4th Ministerial Meeting in Baku on Tuesday (3 March).
How do political narratives travel from Moscow to Westminster?
Azerbaijan's Astara border has become a key corridor for people wanting to leave Iran. More than 600 foreign nationals have been walking through the frontier this week amid the war in the Middle East.
Kazakhstan has vowed to speed up its investigation into the Azerbaijan Airlines (AZAL) crash near Aktau, as mounting diplomatic pressure and geopolitical tensions push the disaster further into the international spotlight.
U.S. President Donald Trump said the U.S. military has enough stockpiled weapons to fight wars "forever"; in a social media post late on Monday. The remarks came hours before conflict in Iran and the Middle East entered its fourth day.
U.S. first lady, Melania Trump chaired a UN Security Council meeting on children and education in conflict on Monday (2 March), a move criticised by Iran as hypocritical following U.S. and Israeli strikes that triggered a UN warning about risks to children.
A torpedo from a U.S. submarine sunk an Iranian warship off the coast of Sri Lanka, U.S. Secretary of Defense, Pete Hegseth told reporters as the Iranian conflcit entered its fifth day on Wednesday.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Shahid Motahari Sub-Speciality Hospital in northern Tehran and parts of the Golestan Palace were bombed on day two of the U.S.‑Israel strikes. AnewZ Touraj Shiralilou is in Iran's capital city and said that the facility was flattened in an airstrike.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment