Azerbaijan, Baku / corr Trend I.Khalilova / The Azerbaijan Investment Company (AIC) discussed with the Black Sea Bank of Trade and Development (BBTD) the prospects for financing projects in Azerbaijan.
Anar Akhundov, the Executive Director of the AIC, reported that the company could consider projects without concluding memorandums on intention, which is currently at the stage of development. "Signing of the memorandum will become a new step in our cooperation with the BBTD," Akhundov stressed. The bank has confirmed its will in participating in financing the Azerbaijani projects.
Work has been carried out over the projects in agriculture, which can be considered an opportunity of attracting BBTD credits. The bank has not set up frames for financing. There should not be any problem in attracting funds from the bank, because the medium-scale projects are selected.
A meeting with the BBTD was held within the framework of an annual meeting of the European Bank for Reconstruction and Development which convened in Kazan, Russia, from 19 to 21 May.
According to the head of AIC, talks were with a group of strategic investors, which participated in the meeting and business forum. Opportunities of investing in the project were discussed anew with the EBRD, which approaches the cooperation positively, taking into consideration the first experience in the construction of a new dairy manufacturing plant Milk Pro in Azerbaijan. Expanding on this experience depends on the efficiency of the projects.
AIC was established by the decree of Azerbaijani President Ilham Aliyev, dated 30 March 2006. The statutory capital of the company is AZN 90mln.