IFC positively assesses reforms in Azerbaijan

Wed 08 May 2019 15:47 GMT | 19:47 Local Time

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The International Finance Corporation (IFC) has positively assessed the reforms carried out in Azerbaijan to strengthen the macroeconomic and financial stability, Trend reports referring to the Central Bank of Azerbaijan (CBA) on May 8.

During the meeting with CBA First Deputy Chairman Alim Guliyev, IFC Regional Manager Damien Shiels stressed that the corporation is ready to continue to support the development of the private sector in the country.

At the meeting, the IFC current and future action program in Azerbaijan, including financial infrastructure, electronic and digital financial services were discussed.

In his turn, Guliyev spoke about the economic reforms in the country and the projects being implemented by the bank in accordance with the program of economic reforms. He stressed the importance of cooperation with the corporation and expressed confidence that the relations will continue to develop in the future.

IFC has been supporting the Azerbaijani private sector for over 20 years, having invested $500 million over the past period.

The investments worth $350 million were directed for trade financing. The investments were also made in the Baku-Tbilisi-Ceyhan pipeline.

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