The Azerbaijani government has formally submitted an intention to become one of the founding members of the Asian Infrastructure Development Bank.
As reported today the Ministry of Finance, on behalf of the government the document was sent to the Chinese Ministry of Finance on March 31. China is the initiator of the idea of creating this fund.
The Finance Ministry says that Azerbaijan is interested in creating a new financial institution that will meet the growing needs of the Asian region in the development of infrastructure.
Note that Azerbaijan attracts preferential loans for the rehabilitation and development of infrastructure from the World Bank, Islamic Development Bank, Asian Development Bank, the Japan Bank for International Cooperation and other international financial institutions, as well as commercial loans from Czech Eximbank, BNP Paribas, etc. ---08D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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