Baku: A total of 371 million manats was allocated by the banking sector in Azerbaijan to green and sustainability-related projects last year. This funding, aimed at fostering environmental initiatives, marks a significant investment in the country’s sustainable development efforts.
According to Azeri-Press News Agency, this information was highlighted in the Central Bank’s ‘Sustainable Finance Report.’ The report outlines the sector’s commitment to enhancing sustainable practices, with plans to allocate 2 billion manats to similar projects by 2030 under the framework of COP29. In line with these goals, the banking sector has earmarked 344 million manats and 27 million manats for green and sustainability-related projects in 2025, respectively.
The majority of the loans provided were directed towards the green transport and sustainable agriculture sectors. Additionally, financing was extended to initiatives focusing on energy efficiency and the sustainable management of water resources, indicating a broad approach to sustainability within the sector.