BAKU, Azerbaijan, September 14. The
International Islamic Trade Finance Corporation (ITFC) reveals
curiosity in additional lively participation in financing necessary
initiatives in Azerbaijan, which is in keeping with the group’s
growth plans till 2030, Hani Salem Sonbol, govt director
of ITFC and a member of the Islamic Development Bank (IDB) group,
informed reporters, Trend reviews.
“Our focus might be on strategic initiatives resembling renewable
vitality and inexperienced finance. We are additionally going to strengthen our
cooperation with small and medium-sized enterprises in Azerbaijan.
We have lately signed an necessary settlement with Rabita Bank,
which I’m certain will strengthen our partnership and assist help
the nation’s growth. Importantly, our various vary of
merchandise can be utilized in each the private and non-private sectors, as
effectively as in combined enterprises and state-owned firms,” he
mentioned.
Hani Salem Sonbol additionally famous that ITFC is dedicated to extra
lively cooperation with Azerbaijan and sees nice potential to work
along with stakeholders, contributing to the event of the
area as a complete.
It needs to be famous that the International Islamic Trade Finance
Corporation is a member of the Islamic Development Bank Group and
was established with the primary objective of commerce growth.
The IDB Group maintains robust relations with Azerbaijan and
seeks to contribute to its socio-economic growth. The Group is
implementing initiatives price about $1.2 billion in Azerbaijan.
The portfolio consists of $956 million in IDB financing, $120.2
million in ICD (Islamic Corporation for the Development of the
Private Sector) authorized financing, $83.4 million in ITFC commerce
operations, and $19.4 million in different IDB Group funds and
operations.
