BAKU, Azerbaijan, November 20. For 30 years, IFC - International Finance Corporation has been supporting Azerbaijan’s development journey, Wiebke Schloemer, IFC Director for Western Balkans and South Caucasus wrote on social media, Trend reports.
Schloemer pointed out that 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. 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,” she noted.
Schloemer went on to add that throughout her visit to Baku, she 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 emphasizing the critical reforms underway and the opportunities ahead for private-sector development.
“My meeting with Bank Respublika also reaffirmed the value of our long-standing partnership, which began with MSME financing in 2007–2009 and further expanded in 2023-2024. Strengthening this relationship remains a priority as the bank deepens its role in supporting small businesses and climate-related investments. 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 concluded.