Baku, Azerbaijan, May 31
By Azad Hasanli - Trend:
Islamic Corporation for the Development of the Private Sector (ICD) will discuss financing of projects in the field of agriculture, cotton-growing, pharmaceutics and metallurgy in Azerbaijan, a source on the country's financial market told Trend May 31.
According to the source, for this purpose, an ICD delegation will hold the meetings with six private companies and representatives of the banking sector in Baku June 1.
The source has not specified the amount.
However, the source stressed that according to the ICD rules of financing, the minimum amount of the loan, issued by the organization, is $10 million. Thus, the total amount of funds that can be allocated to these companies will exceed $60 million.
The ICD has been operating in Azerbaijan since 2003. ICD finances mainly small and medium enterprises in the country. The corporation is the founder of Ansar Leasing and co-founder of the Caspian International Investment Company.
The ICD is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group.
ICD was established in November 1999 to finance the private sector of the member-states.