Azerbaijan Insurers Association (AIA) is hoping to break the "deadlock" of agricultural insurance. However, it expects the support of international organizations.
Reporters were told by the head of the organization Orkhan Bayramov that the concept of technical assistance for the training of experts to assess the insurance risk in this area is ready. Support to local experts will come from the International Finance Corporation (IFC), which could attract foreign experts for training. A business meeting was held on the matter and it decided to sign an agreement on technical assistance soon. The work could begin as early as September.
Azerbaijan has been a member of the International Finance Corporation since 1995. During this time IFC allocated $ 414 million to fund 73 local projects. --17D-
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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