The Asian Development Bank (ADB) has approved $1.250 million in technical assistance to Azerbaijan Railways for the development of a decarbonization project, AzVision.az informs, citing the bank.
ADB allocated the funds through the Technical Assistance Special Fund ($250,000) and the Smart Energy Innovation Fund ($1 million).
The objectives of this project include accelerating progress in gender equality, combating climate change, creating resilience in climate and natural areas, enhancing environmental sustainability, and strengthening governance and institutional capacity.
According to ADB, Azerbaijan aims to establish itself as an international logistics center in 2025 by strengthening connections through the East-West and North-West corridors, including diversifying trade routes through the Middle Corridor to increase economic resilience and regional integration: "With the increase in freight volumes, the state-owned Azerbaijan Railways (ADY) is adapting to international best practices by focusing on decarbonization to support the country's climate goals. ADY is advancing its decarbonization agenda by increasing operational efficiency and reducing costs through increased use of renewable electricity. This transition will also bring additional benefits such as improved air quality, reduced public health costs, and the creation of jobs in the clean energy sector."
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