Azerbaijan to take part in increasing IBRD’s capital

Azerbaijan will take part in increasing the capital of the International Bank for Reconstruction and Development, a member of the World Bank Group.

Report informs, citing the Finance Ministry, that in line with the order of President Ilham Aliyev, Finance Minister Samir Sharifovand Minister of Justice Fikret Mammadov were entrusted with signing relevant documents for Azerbaijan to acquire an additional 505 shares in the IBRD.

Once the country completes the deal, it will preserve its 0.13% voting right.

Azerbaijan has a $286 million share in the IBRD (0.13% voting right).