Baku, November 14, AZERTAC

European Investment Bank (EIB) Global and Ministry of Digital Development and Transport of Azerbaijan signed a Memorandum of Understanding (MoU) today, during the COP29 United Nations Climate Change Conference in Baku. Under the terms of the MoU, both sides will work together for advancing with the preparation and full appraisal of the project to upgrade, expand and modernize Baku’s 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.

“Within the framework of the Baku Urban Mobility Program, the efforts are underway to promote micromobility means and build infrastructure. The micromobility lanes have been extended to about 32 kilometres and the network coverage is expected to increase. The development of the Baku Metro is also a key component of the Baku Urban Mobility Program. This project includes the construction of nine new stations and the enhancement of existing infrastructure to improve the accessibility and quality of metro transportation. These improvements aim to encourage a shift from private car usage to public transport, helping to reduce travel times for citizens and positively impact the city’s environment,” said Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev.

“This MoU marks a key step in our shared vision for a greener, more sustainable Baku,” said EIB Vice-President Teresa Czerwińska, who oversees EIB operations in Azerbaijan and has finalised the discussions for this cooperation. “The EIB will support the Ministry of Digital Development and Transport in preparing and developing an investment project that will decrease greenhouse gas emissions and improve the quality of public transport in the city.”