The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and SOCAR Green have discussed cooperation opportunities in the field of renewable energy, including the use of insurance instruments to attract green investments and mitigate risks when financing projects in Azerbaijan, Report informs referring to the ICIEC.
The discussions took place during a meeting between Khalid Khalafalla, Chief Executive Officer of the corporation, and Elmir Musayev, Chief Executive Officer of SOCAR Green, as part of the ICIEC head's visit to Azerbaijan.
The parties reviewed potential areas of partnership, including the application of ICIEC's political risk and non-payment insurance instruments to mobilize investments, reduce project risks, and enhance the financial sustainability of bank financing for green projects.
The ICIEC noted that the cooperation aligns with Azerbaijan's priorities for the development of renewable energy and SOCAR's environmental strategy.
