IFC Eager to Propose Azerbaijan New Directions of Cooperation

Business Materials 5 February 2007 11:19 (UTC +04:00)

The International Finance Corporation (IFC) has launched the development of some 6 projects in real and banking sectors of the country. Aliya Azimova, a representative of IFC Baku Office informed Trend that these projects mainly concern the banking sector.

We are gradually leaving credit line standards and will try to propose new projects in the market. Shortly there are plans to sanction a project on technical assistance to mortgage financing and we will consider opportunities for the direct financing of mortgage projects and stimulation in this direction, Ms Azimova stressed.

The implementation of the project on IFC technical assistance to the development of the leasing sector in Azerbaijan is due to be completed in April. However, one more IFC project on technical assistance for leasing companies is being implemented in this direction. This is detailed technical assistance and it will take a year to complete, she added.