Baku, Azerbaijan, Sept.16
By Leman Zeynalova – Trend:
The World Bank (WB) can support Azerbaijan with preparation of its feasibility study in renewable energy, Sebastian Molineus, World Bank Regional Director for the South Caucasus, said in an exclusive interview with Trend.
“We have been engaging with the Ministry of Energy to understand their needs on renewable energy resource mapping which the Bank can support. The World Bank has extensive global experience and expertise in supporting countries with developing renewable energy strategies and financing projects, and we would be happy to support Azerbaijan with preparation of its own feasibility studies and structuring of prospective investments,” he said.
Molineus noted that the Bank can also support the sector through direct project financing and/or provision of guarantees to potential commercial lenders.
Azerbaijan joined the World Bank Group in 1992. During this period, the bank allocated loans for the implementation of over 50 projects in the country worth over $3 billion. Seven more projects worth about $1.5 billion are being implemented.
Besides the loans, WB allocated 45 grants to Azerbaijan totaling $41.586 million in 1995-2014.