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$2 million to be invested in clean city - Economy Ministry

25.11.2019,13:41


November 25, Fineko/abc.az. Azerbaijan joins Eastern Europe Energy Efficiency & Environment Partnership.

ABC.AZ reports that within the framework of this project, the Ministry of Economy of Azerbaijan undertook to allocate $2 million for joint financing of investments in eco-friendly urban infrastructure.

Official Baku will be eligible for grant funding for energy efficiency and environmental projects in the urban infrastructure sector, by joining such countries as Ukraine, Moldova, Georgia, Armenia and Belarus. A relevant agreement was signed with Azerbaijan at the Eastern Partnership Investment Summit of the European Bank for Reconstruction & Development (EBRD) held in London.

This project, with investments in 36 projects for 741 million euro in five countries, saved 1,700 GWh on energy costs and reduced CO2 emissions by 1 million tons a year.