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.
European fundings will be directed to upgrading of Ganja’s water infrastructure to improve its residents’ living standards by ensuring better access to clean water while building resilience towards the impact of climate change.
Azerbaijani president Ilham Aliyev met with EBRD president Odile Renaud-Basso in Davos to discuss cooperation on infrastructure, financial sector support, and renewable energy projects. A loan agreement for Ganja’s water system was signed, strengthening ties between Azerbaijan and the EBRD.
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