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.
