The Asian Development Bank (ADB) refused to clarify the timing of the issuance of a loan to Azerbaijan's government for the Shah Deniz-2 gas condensate field development project and the Southern Gas Corridor (SGC) project.
Earlier the timing of consideration of the issue was approved by the Board of Directors, but delayed - last time, from 22 August to 27 September. According to the report on the ADB website, it is a multi-tranche sum of $ 1.505 billion.
But the bank will support the full-scale development of the Shah Deniz-2 field, making an investment plan aimed at improving the government's fiscal position by increasing revenues through the production, processing and export of natural gas, associated with more employment.
According to the plan, the bank will provide a partial credit guarantee to support commercial financing in the amount of 16.67% of the project's value. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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