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IFC holds a workshop for Azeri oil and gas supply firms

26 May 2009 13:16 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. In conjunction with the Enterprise Development and Training Programme (EDTP), the International Finance Corporation (IFC), a member of the World Bank Group, has held a workshop dubbed as Risk Management and Development Promotion for Azerbaijan-based oil and gad firms.

The event was joined by 25 leading suppliers of goods and services.

Caroline Bright, IFC Country Manager for Azerbaijan Corporate Governance Project, said local firms faced with various difficulties, including the global financial crisis need more comprehensive risk management and governance strategies in order to maintain competitiveness and ensure further development.

Presentations on corporate governance, risk management, etc. were also delivered during the workshop.

The EDTP was launched in Azerbaijan in June 2007, sponsored by BP and its co-venturers in the Regional Development Initiative and managed by the Enterprise Centre Baku.

The EDTP is designed to assist you to develop the capability to supply BP with products and services it needs at international standards.

The EDTP is a three-year initiative in support of local business development sponsored by BP and its co-venturers in Azerbaijan. The programme is part of BP’s effort to increase local content of their contracts in Azerbaijan and thereby contribute to the healthy and transparent development of the local economy.