IFC Vice-President for Europe and Central Asia to Pay his First Visit to Azerbaijan
Azerbaijan, Baku, 31 March / corr. Trend I. Khalilova/ On 3 April, Declan Daff, the Vice-President of International Finance Corporation (IFC) for Europe and Central Asia, will pay two-day visit to Baku to get familiar with the perspectives of future corporation with Azerbaijan, IFC Baku Office said.
The Office said that it will be the Vice-President's first visit to Azerbaijan. The visit aims at getting familiar with the current activities of corporation in the country, the development of private sector and economy, and also discussing the possibilities of further corporation.
Daff will hold meetings with the partners- Ministry of Economic Development, National Bank of Azerbaijan and Azerbaijani President as well.
The further strategy of activities of IFC in Azerbaijan includes supporting and strengthening of the banking and various other finance institutions. The Corporation has already offered financial and technical support in mortgage lending in Azerbaijan and the development of leasing sector is of great importance for IFC.
At present, IFC has clients in Azerbaijan among banks (AGBank, Rabitabank, UniBank, -Azerbaijan, Texnika Bank, Azerbaijan Micro-Finance Bank), businesses (ADA Group, Azerbaijan Electronikasi) and Azerbaijani Investment Company.
At present, IFC is a part of capital of three banks, AGBank, Kochbank and Azerbaijan Micro-Finance Bank, and is going to become a part of capital of Bank Respublika.
The Vice-President Declan Daff is responsible for the activities regarding new investments in the region and for real sector in Europe and Central Asia. He also leads Municipal Fund which is the pilot program on financing of sub-national borrowers in World Bank Group. The Fund develops new approaches on direct financing of municipalities and other sub-national clients.
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