Today, as a result of the cooperation between the European Union and Azerbaijan, a high-level working group on the Economic Investment Plan of the EU has started its activities.

According to the information given to APA by the Representation of the European Union in Azerbaijan, the new coordinating body, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as the financial development institutions of the EU member states, will coordinate priority investments with the support of the EU. will guide and determine in his soul.

This will help maximize the potential of Azerbaijan's Economic and Investment Plan by mobilizing up to 2 billion euros of investment into the country using innovative financial instruments such as blending and guarantees.

Such priority investments will contribute to the efforts of the state in the direction of further diversification of Azerbaijan's economy, creation of decent jobs in the country and promotion of inclusive rural development.

The Economic and Investment Plan is the investment pillar of the European Union's Eastern Partnership policy and works with the governance pillar to strengthen democratic institutions.

These two pillars work together to provide tangible benefits to people by creating a stable business environment and bringing economic investments.

The Economic and Investment Plan also supports the EU's Global Gateway strategy to build sustainable and reliable digital, energy and transport connections around the world.

Lawrence Meredith, Director of Eastern Neighborhood and Institutional Building of the European Commission, said: "The launch of the high-level working group on the Economic and Investment Plan is another clear indicator of our close partnership with Azerbaijan.

The Economic and Investment Plan is already delivering tangible benefits for the people of Azerbaijan: up to 90 million euros have been allocated and significant investment projects are being implemented.

This includes investments in improving street lighting in Ganja and supporting access to finance for small businesses across the country.

With the start of our joint working group, we can ensure that Azerbaijan and its people benefit more from the investment potential envisaged in the Economic Investment Plan!"

The high-level working group will regularly bring together high-level representatives of the European Commission, the government of Azerbaijan and European international financial institutions to identify and jointly implement priority investment projects.

It will explore investments in renewable energy, connectivity, SMEs, and the transition to green and digital technologies.

The EU remains the main reform partner in Azerbaijan.