IFC considers new spheres of activity in Azerbaijan

Business Materials 15 November 2012 18:41 (UTC +04:00)

Azerbaijan, Baku, Nov. 15 / Trend A. Akhundov /

International Finance Corporation (IFC) is considering new spheres of activity in Azerbaijan, IFC representative in Azerbaijan Aliya Azimova told Trend on Thursday.

"One of the priority spheres of the activity is energy efficiency, other direction - continued expansion of cooperation on regulatory reforms in the context of improving the investment climate with the government," she said.

She said that these spheres are being examined now. The operations have not been determined yet.

IFC's commitments after Azerbaijan's joining in 1995 hit nearly $ 350 million for 45 projects.

IFC (part of the World Bank Group) is the largest global development institution focused on the private sector in the countries with developing and transition economies. The corporation creates the opportunities to escape poverty. The corporation provides the companies with funds, and thus contributes to the growth of employment, renders advisory services to ensure sustainable development.