Azernews.Az

By Trend

The Multilateral Investment Guarantee Agency (MIGA, part of the World Bank Group) is looking for new projects to support economic development in Azerbaijan, Executive Vice President of the World Bank Group (WB) and MIGA Executive Director Keiko Honda, who is on her first visit to Baku, said in an interview with Trend.

Honda said that presently, the World Bank Group needs good profitable projects, which also correspond to the ecological and social standards of the bank.

"There are not many projects in the world that meet all these requirements,” she said. “One of the projects corresponding to these standards is Trans-Anatolian Natural Gas Pipeline Project TANAP, which is part of the Southern Gas Corridor.”

"We have already delivered a loan guarantee for TANAP,” she said. “Therefore, we arrived in Azerbaijan to once again demonstrate our support for this project and find new opportunities for cooperation with Azerbaijan."

She said that MIGA offers two different products, one of which is to guarantee investments in the public projects, while other product – to provide guarantees for private projects.

"We are already using the first tool within TANAP project,” Honda said. “As for the second tool, we can guarantee investments of various private companies entering the Azerbaijani market.”