President of the Republic of Azerbaijan Ilham Aliyev has held a meeting with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso in Munich, as per the latter’s request.

Odile Renaud-Basso congratulated the Azerbaijani leader on his victory in the presidential election.

President Ilham Aliyev thanked her for the congratulations.

The President of the European Bank for Reconstruction and Development applauded the Azerbaijan Caspian Shipping Company's involvement in projects aimed at increasing the fleet of ships in both the Caspian Sea and the Black Sea. She also noted that the EBRD attaches great importance to the Middle Corridor project and highly appreciates cooperation with Azerbaijan in this context, expressing readiness to participate in such projects.

Odile Renaud-Basso emphasized that the EBRD also stands as a partner for Azerbaijan in water resources management, expressing readiness to support the government projects in this area. She also pointed out that the EBRD hails and supports the collaboration between the Bank and Azerbaijan within the framework of COP29, particularly in the country’s renewable energy projects and green transition policy.

The head of state commended the cooperation between Azerbaijan and the EBRD. President Ilham Aliyev stressed the importance of cooperation with the Caspian Shipping Company, as well as in the Middle Corridor and water resources management, noting that Azerbaijan attaches great importance to the development of green transition and renewable energy resources projects. The President emphasized that Azerbaijan will act as an exporter of renewable energy resources in the near future.

During the meeting, they noted that climate change has already affected the South Caucasus region, with water levels decreasing in the Caspian Sea and water volumes reduced in rivers, as well as other observed consequences across Azerbaijan. The conversation also touched upon cooperation between the EBRD and Azerbaijan regarding projects for water desalination in the Caspian Sea.