Europe Asia News

European Commission President Ursula von der Leyen announced new European Union investment and cooperation plans for the South Caucasus during a joint statement with Azerbaijani President Ilham Aliyev in Baku.

Referring to the peace process in the region, von der Leyen welcomed the historic peace initiatives launched between Azerbaijan and Armenia and stressed that the European Union supports this process.

The statement said that under the EU's Global Gateway Investment Programme, €200 million in grants will be allocated for transport, energy, and digital connectivity projects, with the potential to mobilize up to €2 billion in public and private investment.

Von der Leyen also announced that the EU and Azerbaijan will establish a new "Connectivity Partnership," including a high-level dialogue mechanism covering transport, energy, and digital infrastructure.

Highlighting Azerbaijan as a reliable energy partner, von der Leyen said the Southern Gas Corridor contributes to Europe's energy security and that cooperation will be expanded in renewable energy, electricity interconnections, and green energy corridors.

She also announced a new €20 million peace support programme covering healthcare, demining, rural development, and support for small businesses.

Concluding her remarks, von der Leyen reaffirmed the European Union's determination to strengthen its partnership with the region based on peace, connectivity, and economic cooperation in the South Caucasus.