Azerbaijan's SOFAZ says won't sell assets to cover investment in IBA

Business 18-05-2017 09:08
Azerbaijan's SOFAZ says won't sell assets to cover investment in IBA
Azeri state fund SOFAZ said on Wednesday it would continue to finance all projects including the Southern Gas Corridor, and would not sell any assets to cover its $1 billion investment in troubled lender International Bank of Azerbaijan (IBA).
   
The fund also added in its statement that it would not face any financial difficulty due to IBA's restructuring process.

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