PASHA Bank has taken another significant step in financing energy efficiency projects. A cooperation agreement has been signed between the Bank and the Azerbaijan Energy Regulatory Agency (AERA), providing for the issuance of preferential loans funded by the Energy Efficiency Fund.

The agreement was signed by Deputy Head of PASHA Bank Executive Board and Head of AERA Executive Board Samir Akhundov.

Under the agreement, the parties will cooperate in providing concessional loans financed by the Fund to promote energy efficiency measures. Within this framework, key aspects, including loan terms, accounting procedures, mechanisms for monitoring the proper use of funds, repayment conditions, and the authorized credit institution's reporting obligations to the Agency, will be regulated.

Bahruz Nagiyev noted that the concessional loans financed by the Fund will create new opportunities for implementing energy efficiency projects. He expressed confidence that the signed agreement will further strengthen cooperation between the parties.

Samir Akhundov stated that the provision of concessional loans from the Fund is intended to promote energy efficiency projects. He pointed out that cooperation has already been established with leading banks in the country in this area and expressed satisfaction with the partnership with PASHA Bank.

It should be noted that since 2023, PASHA Bank has been a participant of the UN Global Compact and has been actively supporting energy efficiency and sustainable development initiatives. The Bank’s Corporate Social Responsibility strategy for 2024–2026 is also aligned with the Sustainable Development Goals, with “Climate Action” being a key priority. The Bank aims to expand its activities in this direction further.

By encouraging investment in energy efficiency projects through concessional lending, PASHA Bank contributes to both economic and environmental sustainability, strengthening its leadership position in this field.