Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD cooperates with Azerbaijan National Academy of Sciences High Technologies Park to help SMEs

Through this collaboration, both institutions will be exploring potential investment opportunities that may contribute to developing the private sector of the ICD member countries as well as to achieving the strategic goals of ANAS HTP

The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Vugar Babayev Director of ANAS HTP signed the MoU during the IDB 42nd Annual Meeting at hotel Hilton in Jeddah

JEDDAH, Kingdom of Saudi Arabia, May 24, 2017/APO/ --

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Azerbaijan National Academy of Sciences High Technologies Park (ANAS HTP) have entered into a Joint Strategic Collaboration to help provide financing to companies and SMEs interested in realizing investment projects in Azerbaijan.

The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Vugar Babayev Director of ANAS HTP signed the MoU during the IDB 42nd Annual Meeting at hotel Hilton in Jeddah.

Through this collaboration, both institutions will be exploring potential investment opportunities that may contribute to developing the private sector of the ICD member countries as well as to achieving the strategic goals of ANAS HTP.

Mr. Khaled Al Aboodi, CEO of ICD stated, “We are pleased to have partnered with ANAS HTP, as the MoU ultimately means providing Azerbaijan based small and medium enterprises with the financial support they might need to grow in today’s challenging economic situation”

Mr. Vugar Babayev said, “The purpose of ANAS HTP is to make an extensive contribution to national economic development via science, technology and innovations and promotion of National Innovation System by attracting successful projects and investment. The cooperation with ICD constitute a big step forward and will help us amplify our impact in Azerbaijan.”

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Media Inquiries:
Mr. Nabil El Alami
Email: NAlami@ISDB.org
Fax: +966 12 6444427
Tel: +966 12 6468192

About the Islamic Corporation for the Development of the Private Sector:
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information visit www.ICD-PS.org. 

About Azerbaijan National Academy of Sciences High Technologies Park:
A HTP ANAS established and acting by the decree of president of the Republic of Azerbaijan headquartered in Baku, Azerbaijan. The purpose of the HTP ANAS is to make an extensive contribution to national economic development via science, technology and innovations and promotion of National Innovation System by attracting successful projects and investment.