Baku, Azerbaijan, Jan. 21
By Anvar Mammadov - Trend:
The Islamic Development Bank (IDB) is ready to consider possibility of providing a loan to Azerbaijan, the Baku office of the IDB told Trend Jan. 21.
"No request from the government of Azerbaijan to attract a loan from the IDB has been received so far, but we believe that following the speech of President Ilham Aliyev, who called to increase foreign investment in Azerbaijan, the government will apply to us with a request," said the Baku office of the bank.
The office went on to add that the IDB is ready to allocate loans for financing areas traditional for the bank.
"Financing areas may include infrastructure, agricultural and social projects," the bank said. "If the Azerbaijani government appeals to us with a request to provide a loan, we are ready to consider this issue."
Azerbaijan became a member of IDB in 1992. The bank has invested over $1.2 billion in Azerbaijan for the implementation of projects in various spheres of economy.
The Islamic Development Bank is an international financial organization headquartered in Jeddah (Saudi Arabia). IDB was founded on December 18, 1973 at the first conference of the finance ministers of the OIC member states.
IDB started to operate on October 20, 1975.