Brussels (Eurotoday) – EIB Global has loaned €43 million to Azerbaijan’s AzInTelecom to build two state-of-the-art data centres, promoting digital transformation, and enhancing public service access.
EIB Global (the global arm of the European Investment Bank) has inked a €43 million loan deal to produce a digital infrastructure for governmental services. The money is to state-owned company AzInTelecom LLC, which will utilise the financing to make two new state-of-the-art data centres.
According to EIB, the blank” rel=”noopener”>deal is EIB Global’s first loan to Azerbaijan’s public domain. The undertaking seeks to make public information and usefulness more secure, fast and accessible. The prepared data centres will deliver cloud services. The undertaking, due to be finished in 2027 will also create economic prospects via innovation and skilled jobs.
EIB Vice-President Teresa Czerwińska, who supervises the EIB’s functions in Azerbaijan, said: “We are delighted to standardise our first loan with Azerbaijan’s public sector. Enhancing access to information and promoting resilient digital transformation are among the critical priorities of the European Investment Bank. This special investment concentrating on innovation and transparency, will not only update public administration but will also assist in sustainable economic development and social progress.”
This endeavour is associated with the European Union’s Economic and Investment Plan (EIP) for the Eastern Partnership, as well as the Global Gateway strategy, highlighting the EU’s commitment to promoting sustainable development and digital conversion in the area.
Elkhan Azizov, Acting Chairman of the Board of AzInTelecom LLC, said that this assignment would give a powerful increase to Azerbaijan’s continued digital transformation: “With the enactment of this project, cloud services will become more accessible for both small and big organizations. Naturally, this will have an immediate positive effect on the growth of the digital ecosystem in Azerbaijan. I would also like to mention that both Data Centers designed for construction in the Absheron and Hajigabul areas will be made based on green technologies.”
Comments
2 responses to “EIB Global Allocates €43 Million for Digital Centers in Azerbaijan”
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Just what Azerbaijan needed: a €43 million loan for shiny data centres! Because who wouldn’t want to invest in digital transformation when the local coffee shops are still struggling to get Wi-Fi? 😂💻
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Looks like EIB Global is really pulling out the big bucks for Azerbaijan—€43 million for two data centers, because who wouldn’t want their cloud services to be as reliable as a rainy day in London? ☔️💸 Let’s just hope they don’t get lost in the digital fog!
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