Azerbaijan offers IDB to invest in car manufacturing

  18 January 2017    Read: 898
Azerbaijan offers IDB to invest in car manufacturing
Azerbaijan offers the Islamic Development Bank (IDB) to invest in the creation of industrial parks and zones, car manufacturing, production of construction materials and various equipment, as well as in the spheres of metallurgy and chemical industry, Azerbaijan’s Economy Ministry told AzVision.az Jan. 18.
The ministry said that the country’s Economy Minister Shahin Mustafayev made this proposal during the meeting with IDB Vice President Sayed Aqa in Baku.

Mustafayev noted the importance to increase IDB loans in Azerbaijan’s private sector, in particular, in real sector, to expand direct financing of big enterprises and to participate in share capital of companies.

The minister added that as of today, the IDB have allocated $1 billion for implementation of 18 projects in Azerbaijan, 14 of which have already been completed. The projects cover the spheres of agriculture, energy, transportation, water supply and others.

During the meeting, Mustafayev said that Azerbaijan attaches special attention to the expansion of relations with Islamic countries and strengthening of the Islamic solidarity.

Azerbaijan will continue active cooperation with the Islamic Development Bank, added the minister.

Azerbaijan joined the IDB in 1992.

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