Niyazi Safarov: IFC allocated about $500 million to Azerbaijan on 72 projects so far

IFC has allocated about $500 million loan without state guarantee to Azerbaijan on 72 projects so far, Deputy minister of Economy Niyazi Safarov said, Report informs.

According to him, in the past 16 years, IFC provided 4% of these loans or $20 million in technical assistance: "At the same time, SOFAZ placed $350 million in three investment funds of the IFC. Along with this, IFC allocated $250 million for Baku-Tbilisi-Ceyhan pipeline."

The IFC also allocated $4.7 million for project ‘Improvement of Business Environment in Azerbaijan’.

Azerbaijan has been member of IFC since 1995.