ECONOMY
Annual climate change losses in South Caucasus exceed $100 million
Baku, November 14, AZERTAC
“Challenges such as drought, water scarcity, and extreme temperatures lead to an annual financial loss exceeding $100 million across the three South Caucasus countries,” stated Rolande Pryce, World Bank Regional Director for the South Caucasus, at a COP29 event organized by the Azerbaijan Operating Company.
Pryce noted the World Bank’s support for the region’s transition to green energy through comprehensive analyses and targeted programs. She also emphasized the crucial role of private sector investment in adaptation and green transition initiatives.
