IFC Considers Possibilities to Finance Leasing Sector of Azerbaijan
Azerbaijan, Baku / corr. Trend I.Khalilova / The IFC's representative in Azerbaijan, Aliya Azimova, said that the International Finance Corporation (IFC) is considering the opportunities of supporting the leasing sector of Azerbaijan.
Presently the project on technical assistance to the leasing sector development in Azerbaijan is completing, but the program of directions of technical assistance to several leasing companies, UniLeasing, EG Leasing and Bank of Baku, still remains. Within the framework of this program, the IFC has formed a special foundation in amount of $30 mln, which have been envisaged for financing the leasing services of small and medium enterprises through the leasing companies and banks of Azerbaijan and Central Asia.
Azimova said that presently the possibilities are considered to support the leasing sector firstly through financing, but not through technical assistance. At present, of international financial organizations, European Bank for Reconstruction and Development has joined the capital of one leasing company of Azerbaijan, UniLeasing. Recently EBRD and UniLeasing signed a contract on acquisition of 33% of Company's shares.