OREANDA-NEWS. June 25, 2013. The International Bank of Azerbaijan (IBA) has announced the success of its program on financing the development of the building materials sector.

IBA deputy chairman Emil Mustafayev has stated that Bank-funded construction of country’s second cement plant was completed in Gazakh region.

"The cement plant which is our joint project with corporation Akkord will be put into operation soon," Mustafayev said.

He also underlined the Bank’s role in the development of non-oil sector of Azerbaijani economy, pointing to such projects as the financing of the plant for production of glass containers and construction of Azerbaijani methanol plant AzMeCo.