BAKU, Azerbaijan, December 8. The European Financial institution
for Reconstruction and Growth (EBRD) is carefully monitoring key
regional developments within the Caucasus, significantly the current
settlement between Azerbaijan, Kazakhstan, and Uzbekistan to
set up a inexperienced hall, stated Alkis Vryenios Drakinos, Regional
Head of the Caucasus for EBRD, in an interview with Development.
“We’re concerned throughout the complete Caucasus and are carefully
monitoring new regional developments,” Drakinos stated. “Not too long ago,
the management of Azerbaijan, Kazakhstan, and Uzbekistan signed an
settlement for a inexperienced hall. It’s nonetheless early to debate the
specifics of the undertaking since we’d like feasibility research and
different assessments. Nevertheless, the political will for collaboration
amongst these three nations, mixed with the potential to channel
the renewable vitality of Central Asia and the Caucasus not just for
home use but additionally for the European market, may be very
promising”.
He added that if the undertaking proves viable and bankable, EBRD is
able to help it. “All three nations are operational members
of the financial institution, so we’re well-positioned to help. I’m wanting
ahead to additional updates on this,” Drakinos famous.
Along with the inexperienced hall, the EBRD can be exploring
the Center Hall, a transport sector undertaking that hyperlinks Central
Asia with Europe. Whereas in a roundabout way associated to local weather change,
Drakinos defined that the financial institution’s financing strategy ensures
sustainability.
“The Center Hall idea is essential with quite a few
potential tasks below it,” he stated. “We have now been financing
ASCO, which is at present buying vessels and cargo ships to
help commerce alongside the Center Hall. That is serving to meet the
demand for transporting items between Central Asia, Europe, and
past, each methods”.
Drakinos additional clarified that any transport-related
investments made by the EBRD, no matter sector, at all times embody
a inexperienced part. “We don’t finance tasks that aren’t
appropriate with the Paris Settlement’s conditionalities. Due to this fact,
each undertaking we help is aligned with the Settlement, and we
incorporate related circumstances to make sure compliance”.
The EBRD can be paying shut consideration to the Black Sea cable
undertaking, which is a part of the area’s inexperienced vitality hall. “This
is a serious undertaking that’s beginning to turn out to be extra comprehensible
because the feasibility research is nearly prepared,” Drakinos stated. “As soon as it
is shared with us, we shall be reviewing it. We all know that this
vitality hall undertaking can lay the infrastructure to switch
renewable vitality from the Caucasus to Europe”.
