COP29: EIB Global to support Azerbaijan in planning Baku metro upgrade
Today at the United Nations Climate Change Conference COP29 in Baku, the European Investment Bank Global Division (EIB Global) and the Ministry of Digital Development and Transport of Azerbaijan signed a Memorandum of Understanding (MoU). Under the terms of the MoU, the two parties will work together to advance the preparation and full appraisal of a project to renew, expand and modernise the Baku metro network.
Baku’s metro network, which dates to 1967 when Azerbaijan was part of the Soviet Union, transports around 620,000-630,000 people a day. It is Azerbaijan’s only metro, and the planned revamp and enlargement are meant to increase the number of riders and reduce car congestion in Baku, which has a population of almost 2.4 million, while reinforcing broader efforts to fight climate change and prevent pollution.
“The expanded Baku Metro will have a positive impact on the environment in the city, as well as on the lives of its inhabitants by making it easier and faster to get around Baku,” said the Director-General for Neighbourhood and Enlargement Negotiations at the European Commission, Gert Jan Koopman.
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