BAKU, Azerbaijan, May 7. The Islamic
Corporation for the Insurance of Investment and Export Credits
(ICIEC) intends to support the expansion of Azerbaijani companies
and attract foreign investors to the country, Regional Manager at
the Islamic Corporation for the Insurance of Investment and Export
Credit (ICIEC), Zishan Iqbal said, Trend reports.
He made the statement at a presentation dedicated to
preparations for the Annual Meeting of the Islamic Development Bank
Group.
"Our cooperation with Azerbaijan will continue, especially with
the Agency for the Promotion of Exports and Investments of the
Republic of Azerbaijan, AZPROMO. If the agency is negotiating with
international investors interested in investing in Azerbaijan, we
act as a partner that helps protect investments and strengthen
investor confidence through political risk insurance," Zishan Iqbal
noted.
According to him, another important area is expanding our
presence in the region. "We can play a significant role in
supporting large companies implementing regional projects. We have
held productive meetings with SOCAR Green, South Gas Corridor CJSC,
as well as with several banks in Azerbaijan," the ICIEC's Asia
Regional Manager said.
He added that ICIEC intends to play an active role in their
expansion plans, particularly in the areas of project financing and
attracting Chinese, Korean, Japanese, Indian, and other
international companies to Azerbaijan.
"We intend to facilitate this process in partnership with
multilateral financial institutions, commercial and international
banks, infrastructure funds, as well as our subsidiaries, such as
ICD and ITFC. In addition, in one of the CIS countries, our sister
organization reached its country risk limit and maximum allowable
exposure level, and we, as the IsDB Group’s export credit insurance
arm, helped reduce and assume part of these risks, which allowed
the organization to increase financing and continue implementing
transactions,” Iqbal noted.
