“The Arabian Investment Fund cannot be established until 2020 to finance small and medium business in Azerbaijan,” Executive Director of the Association for Azerbaijan-Arab Countries’ Cooperation (AACC) Yalchin Aliyev told Report.
According to him, Bahrain’s BCNG financial company, which is ready to involve $200-300 million Arabian investment from different sources, will deal with the consolidation of funds for the Fund.
“For establishment of the Fund, it’s firstly needed to sign an intergovernmental agreement between Azerbaijan and Bahrain on protection of investments. The draft agreement is currently being considered by Bahrain,” he said.
Aliyev said that the Fund is planning to invest in small and medium enterprises by participating in the capital: “The investments will mainly be made in know-how, IT, tourism, production of construction materials, agriculture. Investors may also include those interested in startup projects.”