Caucasus (bbabo.net), - The European Union plans to allocate 2 billion euros to Azerbaijan to diversify the economy, create new jobs and develop inclusive rural areas. The EU Delegation in Baku reported on December 8 that the funds will be provided as part of the investment plan.
“The European Union and Azerbaijan have jointly established a high-level working group on the EU investment plan. The new coordinating body will lead and prioritize EU-supported investments, jointly with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as development financial institutions of the EU member states in the spirit of Team Europe (aid program "Team Europe" aimed at supporting partner countries in their fight against coronavirus infection Covid-19 and its consequences. - Ed.). This will help to maximize the potential of the economic and investment plan of Azerbaijan in order to attract investments to the country in the amount of up to two billion euros,” the office said.
Lawrence Meredith, head of the European Commission's Directorate for Eastern Neighborhood Relations and Institution Building, said that the launch of a high-level working group on the economic and investment plan is another clear sign of the close partnership between Brussels and Baku.
“The economic and investment plan is already bringing tangible benefits to the people of Azerbaijan. In particular, almost 90 million euros have already been allocated,” he informed.
President Ilham Aliyev earlier promised that in 2027 the volume of Azerbaijani gas supplies to Europe would reach at least 18 billion cubic meters per year. The export of such a volume to the European market will allow solving the problem of doubling the current figure, which is provided for by the agreement between Azerbaijan and the European Union.
Recall, on July 18, President of the European Commission Ursula von der Leyen and EU Commissioner for Energy Kadri Simson visited Baku. As a result of the visit, a memorandum was signed on increasing the supply of Azerbaijani gas to Europe.