EBRD to support capacity building of Azerbaijan’s energy regulator
By Kamila Aliyeva
The European Bank for Reconstruction and Development (EBRD) will provide technical assistance to further development of the Energy Regulatory Agency of Azerbaijan, EBRD Press Secretary for Eastern Europe, Caucasus and Central Asia Anton Usov said.
Usov recalled that the relevant protocol on intent was signed between the Azerbaijani Energy Ministry and the EBRD in September 2017 during the visit of EBRD President Suma Chakrabarti to Baku.
“This protocol, in particular, envisages the provision of assistance to the ministry in creating an independent energy regulator. This will be consistent with the road map for reforming the state infrastructure, which was approved by President Ilham Aliyev in 2016,” he told Trend.
Usov said that the cooperation on this issue has been successfully launched, and last week a seminar was held on energy regulation issues in Europe, which was attended by representatives of the Council of European Energy Regulators (CEER), the Netherlands, Latvia and Austria.
“The EBRD, for its part, will provide technical assistance in this issue, which will be aimed at preparing a law on the regulator in Azerbaijan, as well as on building the capacity of the Energy Regulatory Agency established by the decree of the President of Azerbaijan, dated December 22, 2017,” he added.
According to the decree, the Agency is created with the status of public-type legal entity. The document also affirmed the Charter of the Agency for Regulation of Energy Issues.
The EBRD is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Azerbaijan has been cooperating with the EBRD since 1992.
The bank has allocated about 2.8 billion euros to Azerbaijan for implementation of more than 160 projects since 1992. One of the main tasks of EBRD is to ensure stable development of Azerbaijan's non-oil sector by investing in small and medium-sized private enterprises.
The EBRD continues to pursue investments in energy projects, especially where there is a gap to improve efficiency and energy security.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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