IFC to work with Azerbaijani gov't to develop sustainable finance - Regional Manager (Exclusive)
Date
4/19/2022 4:16:10 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 19 . The International
Finance Corporation (IFC) will work with the government of
Azerbaijan to develop sustainable finance, Ivana Fernandes Duarte,
IFC's Regional Manager for the South Caucasus said in an exclusive
interview with Trend.
'As the world emerges from the COVID-19 pandemic, IFC is
determined to support Azerbaijan on its path to sustainable,
inclusive, and private sector-led growth. As tackling climate
change is one of our priorities globally, supporting green and
resilient recovery is one of IFC's key priorities in Azerbaijan.
This includes supporting its energy transition and investing in
renewable energy generation. The country is committed to reduce
greenhouse-gas (GHG) emissions by 35 percent by 2030. In this
context, offshore wind looks especially promising. Its technical
potential is estimated at 157 gigawatts, according to an analysis
provided by the World Bank's Energy Sector Management Assistance
Program. This represents vast potential when compared to the
country's total installed capacity of around 8 gigawatts,' she
said.
Duarte pointed out that IFC is already working with Azerbaijan's
Ministry of Energy to create a roadmap for the sector, aiming to
turn the nation into a renewable energy powerhouse.
The work is part of its joint initiative with the World Bank's
Energy Sector Management Assistance Program, she added.
'We also look forward to working with the Central Bank of the
Republic of Azerbaijan as a member of the IFC-supported Sustainable
Banking and Finance Network (SBFN), a platform for financial sector
regulators and industry associations across emerging markets. As
part of the efforts, IFC will work with the government to develop
sustainable finance, which can support Azerbaijan's transformation
toward a sustainable and green economy,' said the IFC Regional
Manager.
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Tags:
- World Bank
- Azerbaijan
- IFC
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