ECONOMY
BAKU HOSTS SEMINAR ON FINANCING AND OPPORTUNITIES PROVIDED BY IDB GROUP
Baku, June 21 (AZERTAC). A seminar on “Financing and Opportunities provided by the Islamic Development Bank Group” has been held in Azerbaijan`s capital.
The event was opened by Birama Sidibe, Vice President of the Islamic Development Bank (IDB), who highlighted the IDB`s projects in the Commonwealth of Independent States, including Azerbaijan.
Sidibe said the Islamic Development Bank was interested in implementing projects in Azerbaijan, which he described as a rapidly developing economy.
Etibar Pirverdiyev, president of Azerbaijan`s major electricity company Azerenerji, praised his company`s cooperation with the Islamic Development Bank.
He said the Bank and the company had implemented several joint projects, adding: “Restoration of Mingachevir hydro-electric power station, construction of Khachmaz sub-station and Janub power station are of particular importance”.
Pirverdiyev said the total amount of money allotted by the Islamic Development Bank to Azerenerji for implementation of different projects made $300 million.
The Azerenerji chief also highlighted the Azeri government`s efforts towards developing alternative and renewable energy sources.
“The Government of Azerbaijan places a particular emphasis to developing clean energy production, and this creates favorable conditions for cooperation with the Islamic development Bank in this area.”
The seminar also featured reports on the IDB`s projects in CIS countries.
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