Baku, Azerbaijan, Nov. 9
By Azad Hasanli – Trend:
The Islamic Corporation for the Development of the Private Sector (ICD) is considering allocation of up to $60 million to banks in Azerbaijan, a source in the country’s financial market told Trend.
Currently, the relevant negotiations are conducted by representatives of Azerbaijani banks and the ICD, according to the source.
The source didn’t specify with which banks negotiations are held, noting that the average cost of each project varies within $10-20 million.
If the negotiations succeed, the funds will be allocated to finance various projects, including the development of the agricultural sector, human capital and others, the source noted.
The ICD was created in 1999 and has been operating in Azerbaijan since 2003.