Azerbaijan, BlackRock sign MoU envisaging up to $1.5bn in infrastructure investments PHOTO

Azerbaijani President Ilham Aliyev met with BlackRock Chief Executive Officer Larry Fink and Global Infrastructure Partners (GIP) Chairman and CEO Adebayo Ogunlesi in Davos, as Azerbaijan and the world’s leading asset manager formalised plans for large-scale cooperation in infrastructure investment.

During the meeting, a Memorandum of Intent was signed between the State Oil Fund of the Republic of Azerbaijan (SOFAZ), BlackRock and its subsidiary Global Infrastructure Partners, envisaging potential capital commitments of up to $1.5 billion over the next three to four years, Caliber.Az reports via state media.

The agreement provides for the continuation of the existing partnership within a long-term strategic framework and foresees joint investments through an international infrastructure investment platform. Priority areas include the assessment of investment opportunities in Azerbaijan’s infrastructure assets, as well as projects linked to the country’s development.

Under the cooperation framework, the parties will explore potential investments in data centres and infrastructure supporting regional cloud computing and artificial intelligence demand. Partnership opportunities in the airport infrastructure sector will also be examined, drawing on GIP’s operational and management expertise.

The Memorandum of Intent is expected to strengthen SOFAZ’s position in the global investment ecosystem, expand cooperation with leading international financial institutions, and contribute to the development of strategically important infrastructure sectors in Azerbaijan.

A formal ceremony marking the exchange of the Memorandum of Intent was held with the participation of the President of Azerbaijan.