The World Bank has expressed its readiness to cooperate with Azerbaijan in the power and geothermal energy sectors, World Bank Senior Energy Specialist Florian Kitt said in Baku at the Azerbaijan & Central Asia Green Energy Week 2025.
He stated that the bank is ready to replicate its successful experience of providing single-source guarantees, which it previously used for the Southern Gas Corridor project in conjunction with SOCAR.
"We have consolidated all guarantee operations under the auspices of the Multilateral Investment Guarantee Agency (MIGA), which allows us to provide them from a single source. We have done this very successfully for the Southern Gas Corridor in conjunction with SOCAR, and now we want to use this mechanism in the power sector as well. We also hope to support new projects, for example in geothermal energy, where we can truly assist with financing," he noted.
