The International Finance Corporation (IFC) has invested over $800 million in more than 60 projects in Azerbaijan over the past 30 years, the representative of IFC in Azerbaijan Aliya Azimova said at the II Baku Forum on Sustainable Development, AzVision.az reports.
"The IFC is one of the world's major multinational financial institutions, promoting private sector investment in developing countries. We have invested over $800 million in over 60 projects in Azerbaijan over the last 30 years. Furthermore, we have contributed to government programs in over 20 different areas, including the investment climate, renewable energy, corporate governance, SME growth, agribusiness, and the financial sector," Azimova said.
"There are numerous prospects for private sector investment in digital communications in all of the region's countries, particularly given regional integration and collaboration, as well as new transportation corridors. In terms of Azerbaijan, I'd like to refer to our recent study on the country's private sector diagnostic, which offers potential for encouraging private sector investment. It describes the possibilities of attracting more than $1 billion in private investment in digital infrastructure, more than $700 million in soft logistics investment every year, and more than $6.5 billion in digital financial investment if these opportunities are achieved in Azerbaijan," she said.
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