On September 17, 2024, the Financial Services Working Group of AHK Azerbaijan convened at its office to discuss "Green Financing and the Transition to a Green Economy." This meeting was part of AHK Azerbaijan’s broader series of initiatives under the motto "Innovate, Collaborate, Transform - Expectations for COP29," which aims to support green development.

The meeting was opened by Mr Ilkin Guliyev, Chairman of the Financial Services Working Group, who greeted the participants and outlined the course and topic of the discussion. He also provided a brief overview of the previous meeting. Mr Guliyev emphasised the relevance of green financing, noting the significant role of the European Bank for Reconstruction and Development (EBRD) in promoting this trend.

Mr Elmin Ibrahimov, Principal Banker at EBRD, served as the guest speaker. He began by providing an overview of EBRD’s activities in Azerbaijan, with a focus on the organisation’s key areas: Energy Efficiency, Renewable Energy, and Sustainable Infrastructure. Mr Ibrahimov then introduced the EBRD's green financial products, including Green Bonds, Green Loans, Sustainability-Linked Bonds, and Sustainability-Linked Loans, detailing how each product operates under specific principles of green finance.

Additionally, Mr Ibrahimov discussed EBRD's financial products and grants, such as direct lending, long-term loans, and both local and foreign currency. He also highlighted the advisory services that accompany financial products, including audit assistance, staff training, research support, and consultancies.

In concluding his presentation, Mr Ibrahimov provided comprehensive information on EBRD-funded projects in Azerbaijan before answering questions from participants on green financing and the EBRD’s ongoing activities.

The meeting ended with a productive exchange of ideas, further reinforcing the commitment to green development and collaborative initiatives within Azerbaijan’s financial sector.