EBRD finances logistics infrastructure in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) has decided to provide a loan of up to US$ 4 million to two companies in Azerbaijan – West & East Forward LLC (WE Forward) and Alat Bay Industrial Development AFEZCO (Alat Bay) – for the construction of a cold and dry warehouse with a 5,000-tonne storage capacity.

The investment addresses the shortage of commercial cold storage warehouses in Azerbaijan. It is also set to enhance the flow of goods to, and via, Azerbaijan by reducing the cost and time of delivery between the Black Sea ports of Georgia and Baku. This means fewer truck trips to transport temperature-controlled goods, and therefore fewer transport-related carbon emissions.

The project is also set to support the development of an internationally certified logistics management programme and training of 100 students, including 40 women. 

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Press release