Baku, Azerbaijan, Dec. 18
By Azad Hasanli – Trend:
Azerbaijan has strong needs for improved infrastructure, the WB Baku office said in a message Dec. 18 quoting Keiko Honda, executive vice president and CEO of the Multilateral Investment Guarantee Agency (MIGA), a part of the World Bank Group.
As part of her one-day visit to Baku, Honda will meet with representatives of the Azerbaijani government and the private sector, according to the message.
“What’s missing around the world is not financing, but rather bankable projects,” she said. “Azerbaijan has strong needs for improved infrastructure, and can leverage cross-border investors to help meet this need. I look forward to learning how MIGA can help draw private capital to meet the country’s development goals.”
In 2017, MIGA supported $4.7 billion cross border private investment going to developing countries by providing non-commercial risk insurance and credit enhancement. Since 1988, MIGA has supported more than 800 projects in 110 member countries.
Azerbaijan joined the World Bank Group in 1992.