In Davos, where global capital tends to sniff out the future before it becomes obvious, Azerbaijan has made a telling move. On the margins of the World Economic Forum, President Ilham Aliyev met Larry Fink, BlackRock’s chief executive, and Adebayo Ogunlesi, the founder of Global Infrastructure Partners (GIP), to formalise what Baku hopes will be more than a financial partnership. The memorandum of intent signed between the State Oil Fund of Azerbaijan (SOFAZ), BlackRock and GIP signals a strategic wager: that infrastructure, digital as much as physical, will define the country’s next phase of relevance.
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