UAE, Azerbaijan create joint investment platform

Abu Dhabi and Azerbaijan have agreed to establish a joint investment platform worth $1 billion that will be distributed equally between them to invest in priority sectors of the two countries and Central Asia.

The Abu Dhabi Sovereign Fund “Holding” (ADQ) and “Azerbaijan Investment Holding,” the Strategic Sovereign Fund located in Baku, announced the establishment of a joint platform aimed at investing in priority sectors and common interests such as agriculture, technology, pharmaceuticals, and energy infrastructure.

The $1 billion joint platform is distributed equally between the two institutions at $500 million each. It will focus on the search for investment opportunities for sustainable financial returns on capital.

Investments will be concentrated primarily in UAE, Azerbaijan, and Central Asia, with possible expansion to other countries, according to the statement by ADQ.

The agreement comes amid the growing interest of the region’s companies in investing in Azerbaijan, with Akwa Power Saudi Arabia and Abu Dhabi Future Energy (Masdar) announcing their cooperation in the development of renewable energy projects with a total capacity of 500 MW in the Nakhchivan Autonomous Republic of Azerbaijan.