The Azerbaijani government intends to allocate from the state budget for 2015 to foreign countries a credit equivalent to the amount of 100 million manat.
According to the Ministry of Finance that promulgated the draft state budget for next year, Azerbaijan will continue its active state policy on lending international projects. What kind of particular project is in question has not been reported.
Earlier Azerbaijan gave Serbia a loan of 300 million Euros to finance the construction of a road section in the central part of the country. It was allocated for 15 years with a grace period of 3 years at 4% per annum. For the construction of the Georgian section of the Baku-Tbilisi-Kars Azerbaijan allocated Georgia two loans totaling $ 775 million. The first loan ($ 200 million) was allocated for a period of 25 years at 1% per annum. The second one ($ 575 million) was at 5% per annum.
It should be noted that the Azerbaijani government has borrowed huge foreign and international credit facilities, the maintenance of which in 2015 will provide 703 million manat of expense. --08B--
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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