Azerbaijan is looking for a loan for the implementation of the North-South railway project. It has appealed to the Asian Development Bank (ADB) for a loan of $ 200 million. According to the ADB report, the relevant departments of the bank will consider the allocation of the credit in the fall. In this connection, the ADB mission will visit Azerbaijan on November 14-25 to collect information.
The railway project North-South implies to connect the railways of Iran and Azerbaijan by the end of 2016. In February, the Iranian and Azerbaijani Presidents reached an agreement in this regard.
The railroad North-South on the site of Rasht-Astara will unite Azerbaijan, Iran and Russia and thus connect Europe with South-East Asia. Under this project, Azerbaijan has to stretch a 14-km rail link across its territory. -0-
Economics
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Turkmenistan, Azerbaijan, Georgia, and Romania are set to sign a quadrilateral intergovernmental agreement to establish the international transport route "Caspian Sea – Black Sea" in Bucharest in 2024, the Ministry of Foreign Affairs of Turkmenistan reported on Tuesday.
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Proposals for increasing the minimum wage in Azerbaijan will be prepared. This is stated in the "Labor Market" working group's 2024 Action Plan of the Business Environment and International Ratings Commission.
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Environmental protection expenditures in Azerbaijan surged 2.9 times in 2023 compared to the previous year, reaching 677.4 million manats, equivalent to 0.6 percent of the country's gross domestic product, the State Statistics Committee reported.
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According to the State Border Service of Azerbaijan, 179,000 foreigners and stateless persons arrived in Azerbaijan in the first half of 2024, marking a 34.0% increase compared to the same period last year. The visitors hailed from 1231.1 countries.
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