ICD may allocate $80M to two Azerbaijani companies

Baku, Azerbaijan, Jan. 12

By Azad Hasanli – Trend:

The Islamic Corporation for the Development of the Private Sector (ICD) considers issuing two loans worth about $80 million to Azerbaijani companies, a source in Azerbaijan’s financial market told Trend Jan. 11.

The loans are supposed to cover projects in pharmaceutics and IT, according to the source.

“Two companies from Azerbaijan applied to the ICD for loans, each amounting to about $40 million,” the source said.

No decision concerning these loans has been made yet as the ICD is now holding the initial consideration of applications, according to the source.

It was earlier reported that the ICD was discussing allocating $30 million to Azerbaijan to finance projects in cotton-growing, food and textile industries.

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 a co-founder of the Caspian International Investment Company in Azerbaijan.

ICD is a part of the Islamic Development Bank (IDB) Group.

---

Follow the author on Twitter: @AzadHasanli

Preparations for 2021 F1 Azerbaijan Grand Prix nearing completion in Baku
Preparations for 2021 F1 Azerbaijan Grand Prix nearing completion in Baku
Baku one of most beautiful, warmest cities - famous Kazakh writer Olzhas Suleimenov
Baku one of most beautiful, warmest cities - famous Kazakh writer Olzhas Suleimenov
Azerbaijan developing program for transformation of healthcare system
Azerbaijan developing program for transformation of healthcare system
Loading Bars
Latest
OMV Petrom completes selling off its subsidiaries in Kazakhstan
Preparations for 2021 F1 Azerbaijan Grand Prix nearing completion in Baku
World Bank to finance development of water services sector in Uzbekistan
Turkey doubles crude oil imports from Kazakhstan
Monday.com files for Nasdaq IPO
Armenian ex-minister of transport & communication detained
Georgia reports 1,562 coronavirus cases for May 18
Georgia sees increase in number of cattle
World Bank to assist Uzbekistan in modernization national innovation system
Turkey records 4M2021 decrease in number of labor migrants to Azerbaijan
Azerbaijan working on introduction of AI in public administration system
Kazakhstan's revenue from passenger air transport increases
Azerbaijan discloses 4M2021 data on gas exports to Turkey
Turkmenistan considering possibility of expanding co-op with transport companies of Russia’s Tatarstan
UK company eyes projects on territory of free economic zones of Uzbekistan
No new oil, natural gas fields required amid net-zero emission activity– IEA
Uzbekistan to use Hungarian experience to stimulate socio-economic dev’t of several regions
Georgia, Ukraine pledge to enhance co-op on path to Euro-Atlantic integration
Kazakhstan boosts exports to Spain despite COVID-19
Net-zero emissions to require huge amounts of new infrastructure
Kazakhstan announces 4M2021 investments attracted amid economic recovery
Turkey reports increase in 4M2021 clothes exports to Kazakhstan
Prices of precious metals in Azerbaijan grow
Belarusian Defense Minister arrives in Azerbaijan on official visit
Azerbaijan issues data on oil exports to Italy for 4M2021
Kazakhstan’s Oil Construction Company opens tender to buy pipes
Banks in CIS region vulnerable to high credit risks - S&P
Iran Tobacco Company discusses cigarette market
Turkey discloses 1Q2021 volume of cargo shipment via Botas port
Turkmenistan, Kyrgyzstan interested in expanding partnership in various sectors
Georgia sees increase in wine export
Azerbaijan sees increase in oil prices
Azerbaijani currency rates for May 18
Iranian currency rates for May 18
UAVs conducting reconnaissance during Azerbaijan's military exercises (VIDEO)
World Bank to assist Uzbekistan in dev’t of strategy for promotion export products
Qatari company eyes to co-op with Uzbekistan in creation of modern greenhouses
US Lawmakers Introduces Resolution To Support India During Covid Crisis
Digital twins becoming integral part of oil & gas operations
India Inc's foreign investment jumps over two-folds to $2.51 bn in Apr'21
Indian FDI hits all-time high in FY21; forex reserves jump over $100 bn
Uzbekistan’s 1Q2021 share of small business in industrial production revealed
Central Bank of Iran injects liquidity into banks
Sputnik V's Limited Rollout Begins In Hyderabad, Visakhapatnam Tomorrow
Immediate de-escalation need of the hour: India on escalating tensions between Israel and Gaza
Second batch of Russian Covid-19 vaccine reaches Hyderabad
Uzbek-Chinese JV opens tender for material for repairing defect in main gas pipeline
Biggest-ever consignment of over 3,600 oxygen concentrators lands in Delhi from China
Will Keep Providing Assistance To India In Fight Against Covid: US
India’s Covid-19 2nd wave ‘slows’
Russian, Chinese leaders to attend ceremony to build nuclear energy project
Air raid sirens sound in southern Israel
TAP offering three expansion scenarios
Uzbekistan reveals COVID-19 data for May 18
Oil rises as U.S., Europe reopen economies
Georgian ATC launches new projects
Baku one of most beautiful, warmest cities - famous Kazakh writer Olzhas Suleimenov
TAP reveals gas transportation volume since start
US presidential advisor phones Azerbaijani president
U.S. gas stations still shut, prices at 7-yr high in slow recovery from cyberattack
Georgia introduces new tax initiatives
Georgia, China discuss prospects for further deepening cooperation in various fields
Georgia, Ukraine and Moldova to boost security and defense co-op with EU
Finland offers Azerbaijan knowhow in ports industry
Georgia may adjust budget for 2021 - Minister of Finance
Georgia plans to revise its 2021 economic growth forecast
Tourism in Georgia recovering faster than expected - Minister
DSK Bank provides short-term loan for IGB
Georgia plans to open land borders
USAID, Gazelle Finance to allocate funds for Georgian SMEs
MTBS to update business model for Georgian Anaklia deep seaport project
TAP launches binding phase of its market test
Aide to Azerbaijani president met with EU Commissioner
Amazon considering buying MGM Studios
US, EU to start talks on steel tariffs imposed during Trump administration
Int'l consulting company MTBS to update freight forecast, business model for Anaklia project
Turkey’s budget balance posts $772 mln surplus in Jan-April
Managers of Kazakhstan’s large companies expected to arrive in Tajikistan
$1.7bn contract signed with local co. to develop Farzad B
Honeywell says Industry 4.0 to enable quick return to growth post-COVID (INTERVIEW)
Brunei imposes int'l travel ban to 4 more countries
US residential energy use falls 4 pct in 2020 - EIA
Biden administration approved $735 million arms sale to Israel
Int'l transactions in securities generate net fund outflow from Canada in March
Portuguese scientists create bactericidal varnish
UN agency to provide 706,000 USD to help South Sudan farmers reduce COVID-19 impact
Italy shortens COVID curfew, eases other restrictions
Aeroflot removes all June tickets to Turkey from sale except for two flights - airline
Ryanair posts record annual loss, hopes to break even this year
Turkey reports over 10 170 COVID-19 cases
Georgia will import an additional 1 mln doses of Pfizer vaccine in summer - PM Garibashvili
Kazakhstan strengthening interparliamentary ties with Lithuania
Activities in Iran’s Qeshm port soar
Resident of Azerbaijan’s Sumgayit Chemical Industrial Park exports products to Italy
Azerbaijan sees increase in 4M2021 foreign trade turnover figures
World Economic Forum special meeting in Singapore to not take place
Kazakh, Polish, Ukrainian and Arabian airlines to resume flights to Batumi
Excess pesticide use threatens Turkey's bee population
Azerbaijan’s Baku Metro company opens tender to buy services to modernize railcars
Flights of light aircraft suspended in Iran
All news