Deputy Minister of Economy and Finance Khurshed Mustafayev met with the delegation of the Chinese Export Credit Insurance Corporation (SINOSURE) headed by Deputy Director General of the Project Insurance Underwriting Department Guo Shuang.

The agenda of the meeting included discussions on support mechanisms for the power sector, subsidies, and financing models for new power and transmission projects.

At the beginning of the conversation, Deputy Minister of Economy and Finance Khurshed Mustafayev familiarised the audience with the main energy reforms implemented in our country since 2017. In particular, in order to liberalise the energy sector, measures were taken to create a competitive energy market through structural transformation of state-owned enterprises and introduction of private sector participation.

During the meeting, the two sides exchanged views on financing models for new energy and energy storage projects, and familiarised themselves with Sinosure's support policies in this regard.

In addition, financing options for power transmission and transformation projects were discussed. The participants explored various financing instruments, including export credits and other financial mechanisms, to support the development of electricity transmission infrastructure.

Following the meeting, the parties agreed to consider cooperation opportunities and intensify consultations on planned projects.

SINOSURE is a state-funded, policy-oriented insurance company established to develop China's foreign economy and trade. It provides export credit insurance to support exports of high-tech and high-value products, economic growth and employment. By the end of 2023, SINOSURE has supported sales and investment worth US$7.98 trillion, serving more than 310,000 enterprises.