The Economic Development Ministry of Azerbaijan and the Islamic Development Bank (IDB) made a decision to create an investment company on the territory of Azerbaijan, the IDB President Ahmed Mahammad stated on November 9 in Baku as a result of the international investment conference, Trend reports.
According to him, the announced capital of the investment company amounts to $100 mln, and $10 mln has been already paid.
The Bank will continue the co-operation with Azerbaijan. It needs to expand the co-operation not only among the business people, but also at the level of the state institutions, he said.
The Azerbaijani Economic Development Minister Heydar Babayev said that the country possesses high economic potential and there are objective and subjective advantages, including comfortable geographical situation, qualified workforce, political stability and legislation that meet the international norms.
We are going to realize all projects that we have discussed at the time of the conference, Babayev said.
On November 10, a communiquГ© will be adopted in Baku, which will reflect the issues of co-operation.
The Economic Development Ministry and IDB made a decision on the development of the relations in the spheres of agriculture, health, telecommunication, tourism, etc.
The Islamic Development Bank has provided $140 mln worth of credit to Azerbaijan.