15:21 - 2.11.2022

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November 2, Fineko/abc.az. "Over the past 30 years Azerbaijan has achieved notable economic growth, rising from a low-income country to a middle-income country."

ABC.AZ reports that WB representative in Azerbaijan, Sarah Michael, stated about this during her speech at conference "Sustainable Development Goals for Green Transformation in Azerbaijan”.

"Azerbaijan has demonstrated significant economic growth in recent years. However, climate change creates new challenges. At that, Azerbaijan is on the right path in the "green" transition and has prospects of becoming a world leader in this direction," she said.

According to Michael, the WB has published a report on the assessment of "green" growth in Azerbaijan, where the high potential for the development of the blue economy was noted, namely in the fields of biotechnology and bioeconomics, marine renewable energy, including offshore wind power, floating solar photovoltaic installations, and many other opportunities. In addition, the report says about transport potential of Azerbaijan and other aspects.

"The WB will also present a new flagship report on the transition to low carbon in Azerbaijan. Azerbaijan is among the countries where we will present such a report for the first time," she added.