IFC invests $17.83M in Azerbaijan in 2024, plans expansion

The International Finance Corporation (IFC), a member of the World Bank Group, invested $17.83 million in Azerbaijan in 2024, accounting for 0.3% of the country’s total foreign direct investment (FDI).

Report informs, citing the Central Bank of Azerbaijan, that IFC currently manages seven active projects in the country, including equity stakes in Access Bank and Bank Respublika, with total investments reaching $47 million.

Looking ahead, IFC has ambitious plans to ramp up financial support for Azerbaijan, aiming to inject between $200 million and $500 million over the next five years.

Over the past three decades, IFC has poured over $800 million into Azerbaijan across more than 60 projects. Azerbaijan holds a 0.12% stake in IFC’s capital (28,852 shares), for which the government has paid $21.516 million.

In 2024, foreign direct investment in Azerbaijan's economy reached $7.046 billion, reflecting a 5.83% annual increase.