Day: May 9, 2024
The European Bank for Reconstruction and Development (EBRD) plans to increase investments in Azerbaijan, Head of EBRD Azerbaijan, Nataly Mouravidze noted in an interview, according to Azerbaijan in Focus, reporting Trend.
”Our current portfolio of projects in Azerbaijan stands at 937 million euros,” noted Mouravidze, emphasizing the importance of the bank’s contribution to the economy of the region.
”Last year alone, we invested 156 million euros in the Azerbaijani economy out of more than 3.6 billion euros invested over the three decades of our activity here,” she added.
The head of the EBRD emphasized that, in addition to these figures, an important aspect is the focus of investments on the development of Azerbaijan’s green economy.
”Whether it be our investments in Green Cities in Ganja, a solar power plant in Garadagh or the largest utility-scale wind power plant being built in the Absheron and Khizi regions,” she said.
Natalia Mouravidze assured that plans to further expand the EBRD’s investment activities in Azerbaijan remain unchanged, which confirms the strategic partnership between the bank and this country in the field of economic development
”We are committed to supporting Azerbaijan’s economic progress and its green transition. We are excited by our strong prospects of cooperation with Azerbaijan’s public and private sectors to finance several strategically important projects for the country and also to support financial institutions and local businesses,” Mouravidze noted.
The head of the EBRD emphasized that each project is assessed individually in order to ensure a positive impact on the growth and development of the country.
She also mentioned that talks with the private sector are presently taking place on a number of important projects, the specifics of which cannot yet be revealed due to preparations.
Mouravidze stressed that Azerbaijan is taking important steps to develop the Middle Corridor trade route.
”Our economists also see that important steps are being taken to develop the Middle Corridor trade route and promote renewable energy,” she notes.
According to her, there is growing support for information technology sector development and the digitalization of the economy in Azerbaijan.
”New tax legislation provides incentives for the IT industry, while capital market development is benefiting from a new digital platform that enables online securities issuance by market participants. We believe that further investment in connectivity, improved legislative and regulatory frameworks for renewable energy, and further investments in the non-oil sector will lead to sustainable diversification of the economy and robust growth in the future,” she added.
Talking about the prospects of the country’s economic development, Mouravidze emphasized the need for sustainable investment in various sectors, which contributes to creating a favorable environment for business development and attracting international investors.
Analyzing current trends and prospects, the head of EBRD in Azerbaijan expressed confidence in the successful development of the country and support for its economic reforms by international financial institutions.
Responding to a question on the potential expansion of the Southern Gas Corridor (SGC), Mouravidze noted that the EBRD is ready to consider cooperation with Azerbaijan in the expansion of the SGC.
Mouravidze underlined that the EBRD has been a long-standing partner of Azerbaijan for three decades and emphasized the establishment of extremely favorable relations with the country’s Ministry of Energy.
“The EBRD has previously supported the Southern Gas Corridor by financing Shah Deniz II, TANAP, and TAP. We realize that the potential of the SGC can be expanded, and if a decision is made, we would be happy to consider cooperation with Azerbaijan. However, for the Bank to finance this project, it must be aligned with the objectives of the Paris Agreement and the Bank’s approach to fossil fuels, including reducing the risk of carbon lock-in by creating the future potential for low-carbon gas transportation,” she concluded.
To note, the EBRD’s loan portfolio in Azerbaijan as of February 29, 2024, was estimated at 937 million euros. The loan portfolio is designed for the implementation of 32 projects.
The majority of the portfolio (90 percent, or 848 million euros) is aimed at investments in sustainable infrastructure, seven percent (64 million euros) at investments in the industry, trade, and agricultural sectors, and three percent (26 million euros) at investments in financial institutions.
The post Nataly Mouravidze: EBRD plans to increase investments in Azerbaijan appeared first on Azerbaijan In Focus.
According to an agreement reached earlier, Russian border and military posts deployed in five regions Armenia during and after the 44-day war of 2020 will be closed, head of the ruling Civil Contract parliamentary faction Hayk Konjoryan said on Facebook.
These include the Russian posts in Tavush, Syunik, Vayots Dzor, Gegharkunik, Ararat provinces.
Also, Russian border guards will stop working at Zvartnots international Airport in Yerevan.
Opponents of Georgia’s foreign agents’ bill beaten
In Georgia, opponents of the foreign agents’ bill are being attacked.
Attacks and beatings of activists protesting against the foreign agents’ bill and prominent figures publicly supporting these protests and opposing the ruling party “Georgian Dream” continue in Georgia.
Late in the evening on May 8 in Tbilisi, at least three activists were severely beaten by unknown groups.
One of them is Dimitri Chikovani, a member of the secretariat of the opposition party “National Movement” (founded by former president Mikheil Saakashvili). Chikovani was attacked near the entrance of a multi-story building in Sololaki, central Tbilisi, where he lives.
Dimitri Chikovani, a member of the secretariat of the opposition party “National Movement”Recording from surveillance cameras has been released, showing Chikovani being attacked by five people. Their faces are not visible in the video.
The politician was transferred to the Khechinashvili Clinic. His condition is assessed as “critical,” with a traumatic brain injury.
“This is the end of the regime, its final breaths. They can’t intimidate us. ‘Georgian Dream’ will end its existence, the Russian regime cannot exist in our country,” Chikovani stated on the “Pirveli” channel.
On the same evening, unknown individuals attacked Gia Japaridze, an expert in international relations. He is the brother of Zurab Japaridze, the leader of the opposition party “Girchi – More Freedom,” and is also actively opposing the foreign agents bill.
Gia Japaridze, an expert in international relations
Zurab Japaridze, a politician, wrote on Facebook: “Several people waited for my brother at the entrance to his house and subjected him to physical assault.”
Gia Japaridze himself, at the entrance to the clinic, gave a brief comment to journalists:
“What is happening in the whole country has happened to me: I was attacked by pro-Russian individuals. I distinctly remember two, maybe three or more attackers. They met me near my house. They started beating me, many with sticks, shouting why I oppose the ‘Russian law‘,” Gia Japaridze recounted.
Japaridze remains in the hospital for now. “His overall condition is stable, he is under observation, and tests are being conducted. He has a traumatic brain injury, and you can see how severe the wound on his head is,” commented the attending physician at the clinic.
On the same night of May 8, another active opponent of the foreign agents bill, Lasha Gvinianidze, was beaten on the street. He is one of the organizers of the March of Europe planned for May 11 in Tbilisi.
During the attack, Gvinianidze was with a friend who managed to capture a fragment of the assault on video. The activist had his split lower lip stitched up.
Lasha Gvinianidze, an active participant in protests in Georgia against the foreign agent law“This is related to my political activity. Before this, they called my 72-year-old father and threatened him, and in the evening, they followed through on the threat. Although we all thought it would remain at the level of phone statements,” Lasha Gvinianidze told the “Pirveli” channel.
These are not the first instances of attacks on politicians and critically-minded citizens in recent days.
On May 7, an unknown assailant attacked the Executive Director of the Institute for Development of Freedom of Information (IDFI), Giorgi Kldiashvili, and the filming crew of the “Formula” channel. The attack occurred midday in downtown Tbilisi, right in front of the Swedish Embassy.
On May 5, in Lanchkhuti, a teacher and recipient of international and national awards, Lado Apkhazava, was attacked in the stairwell of his own home. Apkhazava actively participates in protests against the foreign agent law. He was with his son during the attack.
On May 1, during a rally, the leader of the “National Movement,” Levan Khabeishvili, was arrested and brutally beaten by special forces.
The leader of the “National Movement,” Levan Khabeishvili, is in the hospital. He required surgery on his noseHundreds of activists and journalists are receiving threatening calls. In addition to physical violence, in recent days, hundreds of opponents of the foreign agents bill have been subjected to psychological violence and threats. They receive calls, are verbally abused, and threatened, with the callers claiming to know their home addresses. Editors at JAMnews have also received such calls.
On May 8, the Chairman of the Georgian Parliament, Shalva Papuashvili, announced that the government is creating a special database to “collect information on individuals involved in blackmail.”
This initiative essentially implies the creation of a registry of critically-minded individuals, say representatives of civil society.
On May 11, European Day, a march against the “Russian foreign agent law” is planned in Tbilisi and other cities. Participants will gather simultaneously in several districts of the city and march in columns towards the parliament building.
The ruling party, “Georgian Dream,” first initiated the “Foreign Agents” bill a year ago, in March 2023. The parliament passed it on the first reading, but due to mass protests by citizens and sharp criticism from the West, the government withdrew the bill.
On April 3, 2024, it was announced that the ruling party had decided to reintroduce the bill to parliament. The content remained the same, but this time the project was called the “Transparency of Foreign Influence” bill.
The reintroduction of the bill was accompanied by even larger protests than in 2023. About 100,000 protesters take to the streets every day.
Western partners of Georgia sharply criticize the bill and openly warn the government that its adoption will create serious problems for Georgia’s integration with Europe.
By this point, the bill has been passed in two readings. On May 17, parliament is set to pass it in the third and final reading.