Baku hosts seminar on financing and opportunities provided by IDB group

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.


/AzerTAc/