BAKU, Azerbaijan, September
29. The 12th Annual Meeting of the Asian
Infrastructure Investment Bank (AIIB) will be held in Azerbaijan in
2027.
This was reflected in the post of Azerbaijan's Minister of
Economy Mikayil Jabbarov on his X account.
“During the 11th Annual Meeting in Doha, we participated in a
ceremony marking the decision of the AIIB Board of Governors to
select Azerbaijan as the host of the 2027 Annual Meeting. We
express our gratitude for the high level of confidence placed in
our country.
This decision reflects Azerbaijan's strong partnership with AIIB
and our country's active role in international financial and
investment platforms. Hosting this prestigious event in Azerbaijan
will contribute to further expanding cooperation with international
financial institutions, promoting new investment opportunities, and
supporting sustainable economic development,” the post noted.
Earlier, Conor Barry, senior economist at AIIB, spoke in an
exclusive interview with Trend about key pillars of the bank's cooperation with
Azerbaijan.
He stated that the creation of a "green" electricity market
between Azerbaijan and neighboring countries is one of the key
initiatives in which the AIIB is interested in participating.
"As the AIIB, we do not come to Azerbaijan with pre-determined
priorities. We operate within the framework of our partnership with
the Azerbaijani government, basing our activities on the country's
development goals. We strive to align these goals with areas we
consider crucial for infrastructure, including cross-border
connectivity, 'green' infrastructure, and digital solutions," said
Barry.
The AIIB's chief economist noted that the Bank has participated
in Azerbaijan's renewable energy sector, including large-scale
solar energy projects.
"We believe that this sector will continue to open up
opportunities for private investment. Our goal is to attract larger
volumes of private capital, acting as a multiplier to channel
additional domestic and international private investment into
renewable energy and electric mobility," he emphasized.
Barry added that the share of climate finance in the AIIB's
total investment volume has already exceeded 50%.
"We are currently aiming to reach 70%. For us, the next stage
involves not only quantitative growth but also ensuring qualitative
impact and enhancing climate resilience," he explained.
He noted that developing a multi-year investment program with
Azerbaijan would enable the parties to more clearly define priority
areas for cooperation.
"Agreeing on such a program is not viewed as a definitive list
of projects the bank might finance in a specific country. Rather,
it serves as a signal regarding the level of cooperation the bank
and the country intend to develop in the coming years," Barry
added.
