The Azerbaijan Energy Regulatory Agency (AERA) and Rabitabank OJSC have signed a cooperation agreement regarding the issuance of preferential loans from the Energy Efficiency Fund through an authorized credit organization.
The agreement was signed by Rovshan Ismayilov, Deputy Chairman of the Board of AERA, and Orhan Gültekin, First Deputy Chairman of the Board of Rabitabank OJSC.
Rovshan Ismayilov stated that the preferential loans, which will be provided from the Fund through cooperation with banks, are highly beneficial for those implementing energy efficiency projects.
Orhan Gültekin emphasized that the opportunities created by the Fund provide strong future prospects for cooperation and for implementation of projects targeting energy efficiency measures.
The Energy Efficiency Fund was established by the Decree of the President of the Republic of Azerbaijan Ilham Aliyev, dated March 1, 2024. Its funds are managed by the Azerbaijan Energy Regulatory Agency (AERA). AERA was established as a public legal entity under the Ministry of Energy by the Decree of the President of the Republic of Azerbaijan, dated December 22, 2017.