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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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