Third Multi-Tranche Financing (MFF) Road Sector Development in Azerbaijan by the Asian Development Bank (ADB) is estimated at $ 300 million.
As recorded in the Bank's Country Partnership Strategy with official Baku for the period 2014-2018 the program approved and published on the website of the bank will be approved in 2015. ADB also plans to grant the country a loan of $ 50 million for the implementation of the investment program for sustainable urban transport in Baku.
Azerbaijan has been a member of ADB since 1999. From 1999 to early 2014 for the implementation of 20 projects in Azerbaijan, ADB approved loans totaling $ 1 billion 637.4 million, of which $ 697.5 million was used. --17D-
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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