Finance

Home page

Finance

IFC will assist Azerbaijan in penetrating foreign market

20 August 2008 10:14 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. IFC may help Azerbaijan-based banks and companies to get access to foreign market, said Lars H. Thunell, Executive Vice President and CEO of IFC.
He added that IFC will continue to support banks and insurance companies as part of support for the non-oil sector in Azerbaijan.
According to him, assistance may also be rendered to Azerbaijan for agricultural and food processing sectors.
Azerbaijan became a member of IFC in 1995. To date, IFC contributed more than $400 million to projects in the country. IFC has also implemented advisory projects in banking, corporate governance, leasing, SME development, housing finance, securities market development, investment promotion, and business environment.
The mission of IFC is to promote sustainable private sector investment in emerging markets, helping to reduce poverty and improve peopleâ€™s lives. IFC finances private sector investments in transition and developing countries, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses.