IFC ready to invest in export-oriented industries in Azerbaijan (Exclusive)
Baku, Azerbaijan, Feb. 10
By Anvar Mammadov - Trend:
The International Finance Corporation (IFC) is ready to invest in competitive businesses in various productive sectors of Azerbaijan, including export-oriented industries, Jan van Bilsen, IFC regional manager for the South Caucasus, said in an interview with Trend and Azernews.
“Building a competitive non-oil economy is key for the country’s future economic growth and job creation,” he said. “This can only be achieved by leveraging the power of the private sector to boost investment, efficiency, and sustainability. We are open to investing in competitive businesses that are transparent and well managed in various productive sectors, including export-oriented industries.”
“While we are open to investment projects in different sectors, we welcome the government’s strong focus on improving infrastructure and enhancing connectivity within the country and internationally,” he added. “In an environment of shrinking fiscal space, private sector investment and experience in infrastructure is vital, particularly through public-private partnerships (PPP). IFC is ready to work in infrastructure in Azerbaijan, especially in energy and transport, as long as there is interest in opening these areas to the private sector and introducing PPP mechanisms.”
Azerbaijan became an IFC member in 1995. Since the beginning of cooperation, the IFC has allocated $473 million for projects in Azerbaijan that cover financial services, infrastructure and production.