Azerbaijan, Baku / Trend corr. I.Khalilova / Azerbaijani Investment Company (AIC) and Asian Bank of Development (ABD) have signed a memorandum on mutual assistance on 6 August. The document was signed by Anar Akhundov, the Executive Director of AIC, and Fillip Chang, the Acting Head of Baku office of ABD.
Chang stated that the investment company was to invest jointly with foreign countries. Presently, AIC has joint experience of work and cooperate with the European Bank of Reconstruction and Development, International Financial Committee and Kuwait Finance Houses.
This cooperation will allow ABD to expand its volume of financing in the private sector, particularly, within the infrastructure sphere.
The memorandum includes the following directions of cooperation:
- implementation of joint investments in non-oil sector of economy of Azerbaijan;
- holding joint research in different spheres of economy;
- joint access of projects and financial analyze;
-exchange of information on prospects of projects and potential investors;
- expansion of investors' net;
-hold training for employees of AIC by experts of ABD;
-rendering joint technical support to commerce organizations functioning in Azerbaijan.