The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved $45 million in non-sovereign financing for the construction of Azerbaijan’s first large-scale Caspian Sea water desalination plant.
Sea-news.az reports in an interview with Trend, AIIB Director General Xiaohong Yang highlighted that this initiative is expected to become the first public-private partnership (PPP) in the country’s water sector. Yang noted that the cooperation between AIIB and Azerbaijan covers urban mobility, renewable energy, water security, and regional connectivity.
Alongside ongoing projects, AIIB is evaluating a proposed $820 million expansion of the Baku Metro’s Green Line and assessing the 200 MW Absheron-Garadagh wind power project. The AIIB official emphasized Azerbaijan’s strategic position in connecting Central Asia to Europe and its crucial role along the Middle Corridor.
