IFC Prepared for New Phase of Cooperation with Azerbaijan

The International Finance Corporation (IFC) expects to expand its cooperation in Azerbaijan and is committed to continuing support for the country's development priorities, as stated by IFC Director for the Western Balkans and South Caucasus, Wiebke Schloemer, on LinkedIn, The Caspian Post reports citing local media.

"Coming back to Baku in my new role gave me the chance to see, once again, how much momentum there is on the ground. For 30 years, IFC - International Finance Corporation has been supporting Azerbaijan's development journey. Since joining IFC in 1995, Azerbaijan has welcomed nearly 60 IFC-financed projects across financial services, infrastructure, manufacturing, and agribusiness. Along the way, our advisory work has helped strengthen the business environment, support the financial sector, improve corporate governance, and expand opportunities for small and medium enterprises.

My visit reaffirmed how these partnerships continue to evolve with purpose.

Today, our focus in Azerbaijan is on supporting economic diversification, creating jobs, boosting access to finance for MSMEs, expanding access to energy, and advancing infrastructure that strengthens the country's role as a regional crossroads. This work matters because it enables businesses to grow, encourages private investment, and helps build a more resilient, inclusive future, especially as Azerbaijan accelerates its path beyond hydrocarbons.

We also visited the Baku International Sea Trade Port, a central gateway for Azerbaijan's role as a regional transit hub. With 13 berths, dedicated cargo and ferry terminals, and direct access to the Alat Free Economic Zone, the port plays a major role in how goods move across the region.

Throughout my visit to Baku, I had constructive engagements with leaders shaping the country's economic direction, including the Ministry of Transport, the Central Bank, and the Ministry of Economy, each emphasising the critical reforms underway and the opportunities ahead for private-sector development.

This mission was a reminder that meaningful progress is built on shared vision and consistent engagement. I look forward to deepening our work in Azerbaijan and supporting the country's development priorities in the years ahead," she wrote.