Azerbaijan has further strengthened its cooperation with the European Bank for Reconstruction and Development (EBRD) by joining Eastern Europe Energy Efficiency and Environment Partnership (E5P). Azerbaijan’s first E5P contribution of USD $2 million means that the country is now eligible to receive grant financing for energy efficiency and environmental projects in the municipal sector, joining Armenia Belarus, Georgia, the Republic of Moldova and Ukraine, where the E5P also operates.
The contribution agreement was signed on 22 November by EBRD President, Sir Suma Chakrabarti, and Azerbaijan’s Prime Minister, Ali Asadov, at the Eastern Partnership Investment Summit, held by the EBRD in London. The agreement was signed in the presence of the EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations, Johannes Hahn.
The E5P is a €206 million multi-donor fund that facilitates investments in energy efficiency and environmental projects. The E5P is active in Moldova and other Eastern Partner countries, and its largest donor is the European Union.
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