Meeting held with CEO of ITFC

Opportunities to expand cooperation with the Islamic Development Bank in projects aimed at the development of Azerbaijan and the region were discussed.

Deputy Minister of Economy Samad Bashirli met with Hani Salem Sonbol, chief executive officer of the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, and head of the Islamic Corporation for the Development of the Private Sector (ICD).

It was emphasized at the meeting that the Islamic Development Bank of Azerbaijan has successfully cooperated with the institutions included in the IDB Group, and it was noted that the support given to our country in the direction of the development of the private sector in accordance with this partnership was highly appreciated. It was pointed out that Azerbaijan is interested in expanding relations with ITFC and ICD, the possibilities of cooperation in the field of restoration of our territories liberated from occupation, and the importance of supporting projects related to the establishment of a sustainable infrastructure network in these territories was also pointed out.

Renewable energy, public-private cooperation projects, SME development programs, partnership with Central Asian countries within the framework of ITFC's "Trade Connect Central Asia+" project, issues such as the use of Islamic Finance tools, cooperation between residents registered in economic zones in our country and ICD were discussed at the meeting.

Note: The goal of the "Trade Connect Central Asia+" project is to increase exports between member countries, as well as realize potential in the field of trade, with the support of ITFC. The Corporation provides technical assistance and promotion measures in the field of trade in the member countries of the CIS region within the framework of the program. These mechanisms are aimed at economic integration, inclusive economic growth, expanding export opportunities, as well as increasing competitiveness.