BAKU, Azerbaijan, September 7. Azerbaijan's Energy Minister Parviz Shahbazov has held a meeting with First Vice-President of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink, TurkicWorld reports.

"We made fruitful discussions on the development of Azerbaijan and EBRD cooperation on energy. We assessed the prospects of renewable energy, Caspian Sea EU Green Energy Corridor and Southern Gas Corridor projects with the Bank," Shahbazov wrote on his page on X (Twitter).

Over the course of its engagement, the Bank has contributed a cumulative sum of more than 3.4 billion euros, spread across a spectrum of 188 projects within Azerbaijan. Having established its presence in Azerbaijan since 1992, the EBRD stands as the largest investor in the nation. Looking ahead, there is an anticipated investment project portfolio of $750 million slated for the next three years. The Bank is poised to invest $300 million throughout 2023 across diverse industries. These include but are not limited to energy, transportation, the private sector, small and medium-sized enterprises (SMEs), as well as the banking industry.