Azerbaijan, Baku / Trend , corr I. Khalilova / The International Finance Corporation (IFC) and the Azerbaijan Investment Joint-Stock Company (AIC) Friday signed a Memorandum on Mutual Understanding to introduce corporative management standards.
Within the framework of the project the AIC staff will be able to participate in the training courses, while the companies invested by the AIC will be offered consultation hours on the relevant issues.
The Memorandum provides a methodology for general development of the corporative management sector and estimation of the corporative management in the companies that are potential clients for the AIC.
Charles Confield, the manager of the project, informed that all the parties to the project will benefit.
"The cooperation with the AIC will help the IFC to improve corporative management in Azerbaijan," he said.
The major criterion in estimating companies is to be the corporative management status.
"The companies will have to improve the corporative management status in order to be invested," the manager stated.