WB Aims To Support State Reforms In Azerbaijan - Regional Manager
Date
11/2/2022 5:10:12 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 2. The World Bank
(WB) aims to support state reforms, stimulating investments to
'green' technologies in Azerbaijan, Regional Manager for Azerbaijan
Sara Michael said during the event on 'Green transformation in
Azerbaijan: Sustainable Development Goals', reports on November
2.
According to her, one of the most promising areas of development
in Azerbaijan is the production of low-carbon hydrogen. The country
has an extremely wide potential in this area.
At the same time, Azerbaijan has great opportunities in the
field of alternative energy resources both on land and water as
well as use of high technologies in its production and many other
opportunities, Michael said.
'The WB welcomes the initiative of Central Bank of Azerbaijan on
development of a roadmap for stable financing. However, it's
necessary to expand opportunities in this direction, because
Azerbaijan has a high potential to become a world leader and
innovator in the development of 'green' energy,' she said.
The World Bank's report 'Azerbaijan: Towards 'green' growth'
said that 'green' hydrogen has significant potential in countries
with large renewable energy resources, such as Azerbaijan, and is
expected to become competitive in terms of volume over time and
cost.
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