Azerbaijan, Baku, Jan. 14 / Trend A.Taghiyeva /
IDB investments in member countries of the Bank in 2012 reached a record level of $9.8 billion, the bank's president Ahmed Mohammed Ali stated, a statement released on the bank's website on Monday said.
According to Muhammad Ali, compared to 2011 the bank's investments in 2012 increased by 18 percent. In 2011 the IDB investments totaled $ 8.3 billion.
According to the president of the bank, within the five-year funding program in the African region (2008-2012), the IDB has invested $ 13.5 billion in this region.
Muhammad Ali said that in 2013, the IDB plans to increase investment in member states of the organization by 10 percent compared to 2012. Humanitarian projects, projects in the field of agriculture and development of road infrastructure are foreground for provision of funding.
Azerbaijan joined the IDB in 1992. The first operation of the IDB in the country was held in May 1991, prior to its membership. Share holding in the capital of the bank is 0.13 percent.
Azerbaijan is also a member of the Islamic Corporation for the Development of the Private Sector (ICD) - the investment division of the IDB. This group includes the Islamic Development Bank, the Islamic Corporation for the Insurance of Investment and Export Credit, the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC) and the Islamic Research and Training Institute (IRTI).
IDB finances projects in Azerbaijan in various industries with focus on energy sector (57.2 per cent) and agriculture (17.3 percent).
IDB portfolio in Azerbaijan today is $ 1.2 billion. IDB currently operates in Azerbaijan within the cooperation program for 2011-13, which is worth $ 1.4 billion. The program includes about 13 projects.