Azerbaijan’s economy is highly dependent on fossil fuels, which exposes the country to macroeconomic shocks linked to fluctuations in global energy prices. Through the INFF process, the Government of Azerbaijan aims to accelerate investments in green energy, support the creation of innovative businesses, reduce economic inequality and mitigate the environmental risks of extractive industries.
The Government of Azerbaijan is committed to designing and implementing critical reforms to reduce its dependence on fuel and mineral commodity exports and shift its economic model to a green growth economy. The government is working with the private sector and international community to co-design holistic policies and plans to scale up SDG-aligned programmes, unlock green investments and modernise the country's economic model.