BAKU, Azerbaijan, Feb. 6
By Matanat Nasibova – Trend:
Azerbaijan will direct investments to increase capital of the International Bank for Reconstruction and Development (IBRD), Head of the Press Service of country’s Ministry of Finance Mais Piriyev told Trend.
A decision on Azerbaijan’s participation in increasing the capital of the IBRD was adopted by the decree of President Ilham Aliyev.
IBRD is a part of the World Bank Group.
Azerbaijan will acquire 0.13 percent of IBRD’s shares for $286 million. The government is currently going to acquire 505 new shares.
To this date, the IBRD is the world's largest development bank, owned by 189 shareholders. The bank provides loans, guarantees, risk management products and financial advice to middle-income and low-interest countries.
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