The role of the European Bank for Reconstruction and Development (EBRD) is not only about providing financial or technical assistance, said Alkis Drakinos, Director of the EBRD for the Caucasus region, during his speech at the “StrategEast: Eurasian Forum on State and IT” held in Baku, APA-Economics reports.
He noted that the bank has a program called “Star Venture” that promotes innovation: “This program, which was implemented since 2019, aims to support new and rapidly developing startups. Initially launched as a pilot in 3 countries, the program now operates in 26 markets, supporting more than 350 companies and 36 accelerators. In Azerbaijan, more than 10 local startups have benefited from this program since 2022. These startups operate in various fields, namely information technologies, services, and innovative solutions. In addition, we support more than 200 projects in the ICT sector in Azerbaijan, which contribute to strengthening the country's innovative economy.”
Alkis Drakinos said that one of the other important initiatives is the StrategEast IT Hub program: “This program was established in Baku in 2022 and is a joint initiative of the European Bank for Reconstruction and Development, the Ministry of Digital Development and Transport, and the StrategEast organization. Within the framework of the program, 85 young people from regions such as Ganja, Lankaran, Shirvan, and Nakhchivan have been trained in modern IT skills, and many of them have already received international software certifications.”
The bank official added that they are developing digital approaches to solving the country’s water security issues in cooperation with the Azerbaijan State Water Resources Agency.
