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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Azerbaijan's economy demonstrated robust growth from January to November 2024, with gross domestic product (GDP) rising by 4.7% compared to the same period last year, according to government data. By September, GDP had reached 92.83 billion manats (approximately $54.7 billion USD), reflecting significant progress in diversifying beyond oil and gas, a longstanding focus of economic policy.
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A recent report by the World Bank titled “Breaking Barriers for Women’s Employment in Azerbaijan” sheds light on the significant gender imbalance in the country’s labor market. While both men and women participate actively in the labor force, disparities in employment rates, job quality, and societal attitudes highlight the challenges women continue to face.
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Azerbaijan's consumer price index rose by 4.4% in November 2024 compared to the same month in 2023, driven by higher costs for food, beverages, and services, government data showed on Tuesday.
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Kazakhstan has unveiled plans to develop five major cross-border trade and transport hubs to enhance connectivity and boost economic ties with neighboring countries, Trade and Integration Minister Arman Shakkaliev said on Monday during a government meeting.
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