IFC Seeks To Expand Its Activities In Azerbaijan

10/1/2024 9:10:58 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 1. The International Finance Corporation (IFC) aims to expand its activities in Azerbaijan, IFC investment Officer Emil Mammadli said during the panel discussions at the international conference as part of Baku Climate Action Week, Trend reports.

"IFC has supported Azerbaijan since it gained independence, assisting with key projects like TANAP and regional connectivity initiatives. Additionally, we have helped local small and medium enterprises by providing loans of up to $50 million through banks. Particularly in agribusiness, we have facilitated farmers' access to financing through joint advisory programs, including our collaboration with the government on the implementation of an agricultural insurance program," he noted.

He also added that the IFC is eager to expand its operations in Azerbaijan, and the current event serves as an excellent platform for discussing these matters.

To note, the Climate Action Week runs from September 30 through October 4, 2024, and is being held in Baku for the first time.

The event is set to form the basis of the climate agenda ahead of WCOOP 29 in Baku in November.

The Climate Action Week brings together key stakeholders from a range of sectors such as politics, finance, trade, investment, science, arts, culture, civil society, and media.

The first half of the week (September 30-October 2) focuses on climate solutions involving government agencies, academia, and the private sector. The second half (October 3-4) will focus on science, education, arts, culture, and other sectors.

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