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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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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