The mission of the Asian Development Bank (ADB) began August 24 two-week operation in Azerbaijan in order to prepare the first draft to improve the electricity network.
The job is done in the framework of the investment program to improve the electricity network in conjunction with OJSC Azerishyg, which is a state monopoly in power distribution.
In May of this year in Baku during the 48th annual meeting of the ADB, a memorandum was signed with the government on the program for the modernization of the electricity distribution network in Azerbaijan in the amount of $ 1 billion, of which $ 750 million will be provided by the ADB and $ 250 million will be given by the government. -0-
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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