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Azerbaijan's SOFAZ says won't sell assets to cover investment in IBA
May 17, 2017 / 12:01 PM / 4 months ago

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

BAKU, May 17 (Reuters) - 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. (Reporting by Nailia Bagirova; writing by Maria Tsvetkova; Editing by Christian Lowe)

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