Baku, Azerbaijan, Sept. 27
By Eldar Janashvili - Trend:
Korea International Cooperation Agency (KOICA) intends to provide a $10-million grant to Azerbaijan, Director of the KOICA Azerbaijan office Park Kumok said at the press conference on the completion of the joint training project "Smart Bridge" between the Entrepreneurship Development Fund (SIF) under the Ministry of Economy of Azerbaijan and (KOICA), Trend reports.
Park Kumok noted that currently, KOCIA's investments in Azerbaijan amount to $60 million.
He expressed readiness to continue holding future joint projects to develop the investment sector in the Azerbaijani economy, in particular to the agency's already agreed future investments in Azerbaijan.
"This year, a framework agreement was signed between Azerbaijan and Korea. Upon signing the agreement, grant assistance is expected in several areas. Over the next three years, it is expected that around $10 million will be allocated in rural development and innovation," he added.
The Smart Bridge project is the first winner of the CIAT (Capacity Improvement and Advancement for Tomorrow) grant program in Azerbaijan. Along with the promotion of innovative entrepreneurship based on technology transfer and commercialization of science through project-based training, contribution was made to the development of the innovation ecosystem in Azerbaijan.
Training under the project lasted from Aug. 30 to Sept. 14, 2019 in the SIF building, and the participants included university staff, as well as representatives of the business sector.
(1 USD = 1.7 AZN on Sept. 27)
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