he Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) intends to develop its partnership with the State Oil Company of Azerbaijan (SOCAR) in two main directions, Report informs, citing Khaled Khalafalla, ICIEC's Chief Executive Officer and acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), in an interview.
"The first direction concerns the provision of export credits for SOCAR's international expansion. Within Azerbaijan, we will cooperate with SOCAR on infrastructure projects and renewable energy, ensuring the involvement of international financial institutions in initiatives the company will implement or promote," he noted.
He also recalled that an agreement was signed between ICD and SOCAR during the annual meeting: "The Memorandum of Understanding signed with SOCAR can be considered a framework platform for partnership in renewable energy, infrastructure projects, as well as the promotion of Azerbaijani exports in international markets, primarily in the member states of the Organisation of Islamic Cooperation and the wider region."
The full text of the interview is available via this link.
https://report.az/en/energy/iciec-to-support-socar-s-export-expansion-and-energy-projects