2024-04-15 01:20:51
The European Bank for Reconstruction and Development (EBRD) is ready to assist Azerbaijan in hosting COP29.
As Day.Az reports, the EBRD reported this to Trend on Thursday.
“2024 is already shaping up to be a very important year for the EBRD in Azerbaijan. We started the year by providing a large loan to Azerbaijan Caspian Shipping Company (ASCO) CJSC to develop regional connections. Some interesting projects are already in the final stages with financial institutions, and preparations “COP29 is well underway. As Azerbaijan’s constant partners in implementing its green agenda, we are ready to help make this landmark event a success,” said EBRD Country Manager Natalia Mouravidze, as quoted in the bank’s statement.
It should be noted that the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in Azerbaijan this November. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Within two weeks, Baku, having become the center of the world, will receive about 70-80 thousand foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. The abbreviation COP (Conference of Parties) stands for Conference of the Parties, which is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
There are 198 countries that are parties to the convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Berlin, and its secretariat is located in Bonn.
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