ICD to finance Azerbaijani High Tech Park’s projects
By Gunay Camal
The Islamic Corporation for the Development of the Private Sector (“ICD) and Azerbaijan National Academy of Sciences High Technologies Park (ANAS HTP) have entered into a Joint Strategic Collaboration to help provide financing to companies and SMEs interested in realizing investment projects in Azerbaijan.
CEO of ICD, the private sector arm of IDB Group, Khaled Al Aboodi and Director of ANAS HTP Vugar Babayev signed the MoU during the IDB 42nd Annual Meeting in Jeddah.
Through this collaboration, both institutions will be exploring potential investment opportunities that may contribute to developing the private sector of the ICD member countries, as well as to achieving the strategic goals of ANAS HTP.
“We are pleased to have partnered with ANAS HTP, as the MoU ultimately means providing Azerbaijan based small and medium enterprises with the financial support they might need to grow in today’s challenging economic situation,” said Khaled Al Aboodi.
Babayev, for his part, stressed that the goal of ANAS HTP is to make an extensive contribution to national economic development via science, technology and innovations and promotion of National Innovation System by attracting successful projects and investment. T
“The cooperation with ICD constitute a big step forward and will help us amplify our impact in Azerbaijan,” he said.
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shari’ah.
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