IFC to continue providing support for Azerbaijan’s green economy transition

By Trend

International Finance Corporation (IFC) will continue providing
support to Azerbaijan on its path to green economy transition,
IFC’s Regional Manager for the South Caucasus Ivana Fernandes
Duarte told Trend.

“Climate change, renewables, including solar, offshore and
onshore wind are the strong focus in our cooperation with
Azerbaijan,” she said.

According to regional manager, IFC will also be supporting
economy diversification, new jobs creation out of an oil and gas
sector in order to boost Azerbaijan’s green economy transition.

Also, IFC is very keen to provide private sector expertise and
support the government in the offshore wind development
initiative.

“I would like to highlight the Offshore Wind Roadmap for
Azerbaijan, developed jointly by the Ministry of Energy of the
Republic of Azerbaijan, the WB, and the IFC. Azerbaijan has the
potential to install 7GW of offshore wind power by 2040,” she
added.

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