Baku. TurkicWorld:
The Asian Development Bank (ADB) will continue to support Azerbaijan in achieving a 30 percent share of renewable energy, ADB President Masatsugu Asakawa said at an event dedicated to the 25th anniversary of the partnership between Azerbaijan and the Bank, TurkicWorld reports via the Ministry of Finance.
Asakawa emphasized that ADB is fully committed to supporting the climate agenda for the Asia-Pacific region and aims to provide $100 billion in climate finance by 2030.
"I am pleased to witness the government of Azerbaijan's strong efforts to achieve a 30 percent share of renewable energy by 2030. This is an ambitious and commendable goal, and ADB will continue to assist Azerbaijan in reaching it," he added.
During his visit to Azerbaijan on June 26, the ADB president visited the Garadagh district of Baku and Shamakhi. In Garadagh, he toured a 230 MW solar power plant co-financed by ADB with a $21.4 million loan. This project marks ADB's first renewable energy initiative in Azerbaijan and represents a significant investment in the country's private sector aimed at long-term international development.
An event dedicated to the 25th anniversary of Azerbaijan's partnership with ADB took place today. At the event, Finance Minister Samir Sharifov, Azerbaijan's representative on the ADB Board of Governors, highlighted ADB's role as a strong and reliable development partner over the years. He emphasized that ADB's cooperation has yielded numerous successful outcomes, actively supporting economic reforms and financing infrastructure projects aligned with Azerbaijan's government priorities.
