IFC invests over $400 million in Azerbaijani projects
Azerbaijan, Baku, Oct. 30 / Trend A. Akhundov /
The International Finance Corporation (IFC), which is part of the World Bank (WB), has invested more than $400 million in projects in Azerbaijan, the WB Baku Office told Trend on Wednesday.
Azerbaijan has been an IFC member since 1995. Since then, the International Finance Corporation has invested $408.6 million and drawn around $73 million from other creditors as part of 69 projects in Azerbaijan.
The IFC mainly invests in the financial sector, leasing, small and medium enterprises, financing of trade and housing, as well as the oil and gas industry, hotel business and retail trade.