25.01.2013 - Azerbaijan became first out of world’s developing economies which invested in IFC-run Asset Management Company Funds
The State Oil Fund of Azerbaijan (SOFAZ) and International Finance Corporation signed an agreement that expands their cooperation to support private sector development in emerging markets. The IFC informs that in compliance with the agreement SOFAZ committed $50 million to the IFC Catalyst Fund which is designed to stimulate the development of funds and projects focused on renewable energy and climate-friendly solutions. This follows an investment by SOFAZ in 2010 of $100 million in the IFC African, Latin American, and Caribbean Fund. Azerbaijan was the first investor from an emerging market to invest in funds managed by the IFC Asset Management Company...............................................Full Article: Source
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