Azerbaijan proposed to the European Bank for Reconstruction and Development to invest in industrial parks and neighborhoods in the country, support the creation of agro-parks, expand ties with credit unions cooperating with small and medium-sized businesses. The Minister of Economy of Azerbaijan Shahin Mustafayev said this at a meeting with EBRD President Suma Chakrabarti in London on February 12.
The press service of the Economy Ministry told Turan that one of the requests was to “promote the development of the macroeconomic framework for 2017-2020.”
In May this year as part of the EBRD's annual meeting the Government of Azerbaijan is planning to organize a presentation of the country for the investors. In June, the bank's President will visit Baku.
Note that since the early 1990s, the EBRD has allocated $2.8 billion for the implementation of 161 projects of the private and public sectors. In the private sector, the EBRD has financed 151 projects. The EBRD takes equity participation in several private banks and industrial companies. ---08D
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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