The Azerbaijan Energy Regulatory Agency (AERA) and Bank Respublika OJSC have signed a cooperation agreement on the provision of preferential loans from the Energy Efficiency Fund through an authorized credit organization.
The agreement was signed by Rovshan Ismayilov, Deputy Chairman of the Board of AERA, and Elnur Hasanov, Deputy Chairman of the Board of Bank Respublika OJSC.
During the signing ceremony, Rovshan Ismayilov talked about the Fund’s operational directions and stated that preferential loans will be issued through cooperation with banks to promote energy efficiency measures. He expressed his hope for the success of energy efficiency projects to be implemented in partnership with Bank Respublika.
Elnur Hasanov expressed interest in implementing energy efficiency measures through the opportunities created by the Fund. He also highlighted the perspectives for supporting projects in this field under the cooperation agreement.
The Energy Efficiency Fund was established by the Decree of the President of the Republic of Azerbaijan Ilham Aliyev, dated March 1, 2024. Its funds are managed by the Azerbaijan Energy Regulatory Agency (AERA). AERA was established as a public legal entity under the Ministry of Energy by the Decree of the President of the Republic of Azerbaijan, dated December 22, 2017.