Azerbaijan, Baku, April 18 / Trend, A.Akhundov /
The International Finance Corporation (IFC), which is included in the World Bank (WB), plans to invest $28.8 million in five projects in Azerbaijan in 2013, WB Baku Office said on Thursday.
Azerbaijan has been a member of the IFC since 1995. Since then, the International Finance Corporation has invested nearly $393 million in 67 projects in Azerbaijan and mobilised about $73 million from other creditors.
The IFC invests mainly in the financial sector, the leasing industry, small and medium enterprises, trade finance and housing, as well as in the oil and gas industry, hotel business and retail trade.
In addition, the State Oil Fund of Azerbaijan has invested $100 million into the IFC African, Latin American and Caribbean Fund and $50 million in the IFC Catalyst Fund. The total share of SOFAZ in the IFC Global Infrastructure Fund will be increased to $200 million in its general budget of $500 million.