The Asian Development Bank (ADB) is reinforcing its commitment to climate action by increasing resources to support Azerbaijan’s ambitious objectives as it leads COP29, stated ADB Azerbaijan Country Director Sunniya Durrani-Jamal in an exclusive interview.

Azerbaijan’s Strategic Vision for COP29

Durrani-Jamal highlighted Azerbaijan’s commitment to making COP29 impactful, stating, “As the climate bank for Asia and the Pacific region, ADB is proud to support the COP29 presidency.” Since May 2024, ADB experts have collaborated with the Ministry of Ecology and Natural Resources to prepare Azerbaijan’s first National Biennial Transparency Report under the Paris Agreement.

ADB also guides Azerbaijan’s Article 6 negotiations team, assisting with workshops to strengthen the country’s role in global climate talks. Additional support includes work on “Action Agenda” initiatives, such as just transition and climate resilience across sectors including health, education, and green skills.

Regional Cooperation Through CAREC and Baku Initiative

Azerbaijan plays a central role in the Central and West Asia Regional Economic Cooperation (CAREC) Program, supported by ADB’s Baku Initiative for Climate Finance and Trade. Since joining ADB in 1999, Azerbaijan has received over $5 billion for sustainable projects across energy, health, and agriculture.

Boosting Regional Connectivity

Durrani-Jamal emphasized Azerbaijan’s strategic role as a critical transit hub between Asia and Europe. ADB has invested $1.5 billion in transport, including projects in the CAREC Corridor 2, which connects China with Europe.

In the rail sector, ADB approved $131.5 million for Azerbaijan’s Railway Sector Development, as well as $47 million for a digital transformation project to improve operational efficiency and security.

Supporting Renewable Energy Goals

Azerbaijan aims to add 1,870 MW of renewable energy by 2027. ADB’s support includes the Garadagh Solar PV Plant, expected to power 110,000 homes and reduce annual CO₂ emissions by 200,000 tons. ADB also co-launched a 100 kW Floating Solar Photovoltaic Pilot Project on Boyukshor Lake.

New Country Partnership Strategy for 2025-2029

ADB is developing a Country Partnership Strategy for Azerbaijan (2025-2029) to guide investments in green infrastructure, water security, export diversification, and digital skills. “ADB aims to foster multi-sector solutions through enhanced collaboration among government entities,” Durrani-Jamal noted.

ADB is also supporting the decarbonization of Azerbaijan’s economy by encouraging investment in techno parks and digital skills, especially for girls and rural areas.

Source: Trend.az