IFC to help attract investments in Azerbaijan
Baku, Azerbaijan, Sept. 19
By Azad Hasanli – Trend:
The International Finance Corporation (IFC) plans to launch a project to improve investment climate and increase competitiveness of Azerbaijan’s national economy in autumn, Aliya Azimova, head of the IFC Baku office, told Trend Sept. 19.
She said that the IFC will provide technical assistance for the project. The Swiss State Secretariat for Economic Affairs (SECO) can finance the project, she noted. However, this issue, just like the cost of the project, is still at the stage of discussion, she added.
“Within the framework of the project, we plan to support improvement of Azerbaijan’s investment policy, simplification of regulatory norms for business and promote the country’s participation in existing global value chains,” Azimova said.
She noted that through these reforms, the IFC plans to help increase the competitiveness of the Azerbaijani economy and stimulate the flow of investments to the country.
Azerbaijan has been cooperating with the IFC since 1995. During this time, the IFC granted loans worth $473 million to Azerbaijan for implementation of 56 projects.