CBA Director: Azerbaijani banks issue AZN300 million in green loans

To date, Azerbaijani banks have issued 300 million manats (approximately $176.5 million) in loans to support the transition to a green economy, Shahin Mahmudzada, Executive Director of the Central Bank of Azerbaijan (CBA), stated during the opening day of the 3rd Baku Climate Action Week (BCAW2025), Report informs.

He noted that the Azerbaijani banking sector has voluntarily committed 2 billion manats (over $1.176 billion) in green economy financing by 2030: "This commitment was announced during COP29. According to the latest statistics, local banks have issued approximately 13,000 loans related to this initiative, totaling 300 million manats."

Mahmudzada emphasized that the green transition is a complex and long-term process: "But the momentum we are creating today will have a long-term impact."