A new loan has been implemented for the International Bank of Azerbaijan (IBA).
According to the report of the largest financial body, a loan of $ 100 million was attracted from The Export Import Bank of Korea (KEXIMBank), and the relevant contract was signed.
The press release noted that the loan will be used to finance imports of goods into Azerbaijan from Korean manufacturers.
Recall during last week IBA attracted two loans totaling $ 260 million.
IBA was founded in 1992. The owner of a controlling stake in its share capital (51.07%) is the government through the Ministry of Finance, while the other 48.93% stake is owned by private shareholders. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review