Azerbaijan will take part in a meeting of the founding countries of the Asian Bank of Infrastructure Investments (ABII), which will be held in Beijing on April 26-27.
The bank is established to develop industrial infrastructure (energy, transport, telecommunications, agriculture, water, environment and others) in Asia.
The Memorandum of Understanding on establishing the bank has 25 signatures.
The main engine of the new bank is China and developed countries of Asia. The authorized capital of the bank is $ 50 billion, a significant portion of which will come from Beijing.
Finance Minister Sharifov said at a press conference on Monday that the Azerbaijani delegation will participate in the inaugural meeting.
Sharifov also noted that the 48th annual meeting of the heads of the Asian Development Bank will be held in Baku at the scheduled time on May 2-5. It will bring together around 3,000 participants from 66 countries. –0--
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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