Islamic Bank Groups portfolio on Azerbaijan reaches $1.2 bn
Baku, Fineko/abc.az. The Islamic Development Bank Group (IDB) has achieved grandmaster-level portfolio on Azerbaijan.
Today in Baku at a seminar held within the framework of WTO-related Technical Assistance and Capacity Building Program (WTO-TAP) IDB representative in the country Tamerlan Taghiyev has said that the IDB current portfolio on Azerbaijan is about $1.2 bn.
"We, as a group, transferred to financing large (with cost up to $250 million) projects in such key areas as energy, water supply and sanitation, irrigation and reclamation. The Bank does not forget about humanitarian development and support of the Government of Azerbaijan and is actively cooperating with the private sector," Taghiyev said.
In addition to the Bank, projects in the country are also financed by the Islamic Corporation for Development of the Private Sector (ICD) and the Islamic Trade Finance Corporation (ITFC).
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