UK ready to cover risks of at least $6.6 billion on projects in Azerbaijan

UK Export Finance is ready to take on market risks for projects in Azerbaijan worth at least £5 billion ($6.62 billion), UK Minister of State for Trade at the Department for Business, Innovation, Science and Trade Lord Anas Sarwar said at the eighth meeting of the Intergovernmental Commission on bilateral cooperation between Azerbaijan and the UK, Report informs.

"I want to work with you, Minister [Shahbazov], to identify exactly which projects can be implemented so that we can deploy this funding [£5 billion], bring the projects to life and build the relevant facilities here in Azerbaijan," he said.

According to him, the UK intends to use these opportunities to support more projects in Azerbaijan, particularly in infrastructure, clean energy and the development of the Middle Corridor.

"We also want to expand investment flows in the opposite direction," Sarwar added.