IBA Awarded for Contributions into Co-operation with CIS

The operation of Azerbaijani banks, the International Bank of Azerbaijan (IBA) in particular, was highlighted at the meeting. The administration of the ICD noted the special contributions of the IBA regarding the development of co-operation with the CIS countries, as well as effective co-operation in the financing of projects within the framework of middle and small-scale entrepreneurship. At the end of the meeting the IBA were awarded with the prize ‘Special Contributions and Effective Co-operation (with ICD)’.

The IBA has been co-operating with the ICD since 2004 and the corporation has allotted a $4.5mln financing line for implementation of projects in Azerbaijan. A number of projects proposed by the IBA are under current consideration by the ICD.