EBRD to Provide $30 Million Loan to Azerbaijan for Energy System Strengthening

Azerbaijan's Energy Minister Parviz Shahbazov has traveled to Italy to participate in the inaugural ministerial meeting of the World Fusion Energy Group (WFEG), scheduled for November 6, 2024, in Rome. The event will be co-chaired by Italian Prime Minister Giorgia Meloni and International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi.

Azerbaijan has introduced a new national standard for Environmental, Social, and Corporate Governance (ESG), officials announced during a briefing organized by the Small and Medium Business Development Agency (KOBİA) at the “Baku SME House.” The event featured Ilham Bayramov, Director General of the Azerbaijan Institute of Standardization (AZSTANDART), and Natig Hasanov, First Deputy Chairman of KOBİA, who provided media representatives with detailed information on the standard's benefits for businesses.

Azerbaijan Railways CJSC (ADY) transported 6.267 million tons of transit cargo from January to October 2024, marking a 7% increase compared to the same period in 2023. In October alone, transit shipments reached 614,584 tons, 14% higher than in October of the previous year.

During the virtual conference "COP29 Action Program: Energy Initiatives and Commitments" on November 4, UNIDO (United Nations Industrial Development Organization) expert Smeeta Fokeer highlighted the importance of adopting international commitments on hydrogen and tripling renewable energy capacities by 2030 at COP29 in Baku.