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 Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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