For the preparation of the investment conference with the participation of Arabic financial institutions, the technical mission of Islamic Development Bank (IDB) will arrive in Baku on June 18, a government source told Trend. The mission will stay in the country until 25 June. The conference was scheduled for 7-9 November in Baku.
It was expected that during the president of IDB Ahmad Mahammadalis stay in Baku on June 19, an agreement would be signed on allocation of grant totaling $274 thousand for the organization of the international forum. However, due to delay of receiving the authority to sign the agreement, this ceremony was cancelled.
All expenses for conducting the conference will be born by IDB, but the Azeri government will pay all internal expenses (transport, etc.).
The forum will be directed towards attracting investments in the private sector. Even it is not excluded that the forum may be combined with the round table which is held every three year with the participation of IDB and Arabic funds.
It is expected that 200-250 people will be represented from the IDB coordination group member-countries, the same number of people is expected locally. IDB has already conducted such a conference in Uzbekistan.