AccessBank signed a framework agreement with Asian Development Bank (ADB), which supports the Bank in institutional development and capacity building until the end of 2018. Within the framework of this cooperation, ADB will provide technical assistance to the Bank in two strategic areas - the further development of retail services with a focus on e-banking and the introduction of non-financial services for urban and rural small and medium enterprise (SME) clients.
"We are very pleased to expand our successful partnership with ADB and see their renewed cooperation as a sign of trust and commitment to a long-term partnership. I am sure that based on this development framework, our Bank will further improve its service standard and product range for the benefit and convenience of our customers throughout the country." - said Michael Hoffmann, CEO of AccessBank.
"We are pleased to work with AccessBank through ADB's private sector operations in supporting entrepreneurs by providing financial services and contributing to the development of their institutional capabilities, especially in Azerbaijan's regions" says Rainer Hartel, Director, Public Management, Financial Sector and Trade at ADB.
ADB, based in Manila, supports Azerbaijan through sovereign and non-sovereign operations fostering inclusive and environmentally sustainable economic growth. During the period of cooperation, since 1999, within the framework of 12 projects the ADB has allocated to Azerbaijan loans for $ 2.64 billion, technical aid for $ 10 million on 7 projects, and loans to the private sector, exceeding $ 160 million. -0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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