Azerbaijan, IFC mull implementation of new projects for water infrastructure development

Azerbaijan and the International Finance Corporation (IFC) discussed the development of cooperation and the implementation of new projects in the field of water infrastructure.

Report informs about with reference to the State Water Resources Agency of Azerbaijan that the discussions took place within the framework of a meeting between the chairman of the state agency, Zaur Mikayilov, and the IFC delegation, which is visiting Azerbaijan.

Mikayilov informed IFC representatives about projects implemented in Azerbaijan to develop water infrastructure. He noted that some of the projects were implemented with the support of international financial organizations.

According to him, cooperation with international financial organizations is of particular importance given the need for efficient use of water resources against the backdrop of climate change.

IFC Regional Senior Manager for Infrastructure and Natural Resources in Europe, Latin America and the Caribbean, Cheryl Edleson Hanway, in turn, noted that the organization she represents supports the financing of important development and investment projects in the private sector in developing countries.

The meeting participants also discussed the activities of IFC in Azerbaijan and the region as a whole, and exchanged views on issues of potential cooperation. The parties noted that further development of cooperation in the field of water resources will help strengthen bilateral relations.