19 April 2022 14:00 (UTC+04:00)
The Worldwide Finance Company (IFC) will perform with the government of Azerbaijan to establish sustainable finance, Ivana Fernandes Duarte, IFC’s Regional Manager for the South Caucasus explained in an special interview with Development.
“As the world emerges from the COVID-19 pandemic, IFC is determined to assistance Azerbaijan on its path to sustainable, inclusive, and private sector-led growth. As tackling weather modify is one of our priorities globally, supporting eco-friendly and resilient recovery is just one of IFC’s important priorities in Azerbaijan. This incorporates supporting its power transition and investing in renewable power era. The nation is committed to minimize greenhouse-fuel (GHG) emissions by 35 % by 2030. In this context, offshore wind appears to be in particular promising. Its technological likely is approximated at 157 gigawatts, in accordance to an examination delivered by the Earth Bank’s Electricity Sector Management Aid Program. This signifies vast prospective when when compared to the country’s overall put in capacity of close to 8 gigawatts,” she stated.
Duarte pointed out that IFC is already functioning with Azerbaijan’s Ministry of Power to create a roadmap for the sector, aiming to convert the nation into a renewable strength powerhouse.
The perform is section of its joint initiative with the Planet Bank’s Energy Sector Administration Assistance Software, she included.
“We also glimpse ahead to doing the job with the Central Financial institution of the Republic of Azerbaijan as a member of the IFC-supported Sustainable Banking and Finance Community (SBFN), a system for economic sector regulators and field associations across emerging marketplaces. As portion of the endeavours, IFC will operate with the government to establish sustainable finance, which can assist Azerbaijan’s transformation toward a sustainable and green financial system,” mentioned the IFC Regional Supervisor.
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