BAKU/20.12.13/TURAN : European Bank for Reconstruction and Development (EBRD ) under the framework of general banking financial services in Azerbaijan has allocated Bank Respublika a credit line of U.S. $ 9.4 million .
As stated by Bank Respublika, the line of credit in the amount of $ 5.4 million will be allocated to finance investments and working capital of local companies , micro, small and medium enterprises , as well as the allocation of long-term loans . The amount of $ 1 million of the credit line will be provided by the Special Fund - Regional Development Initiative , funded by BP Exploration ( Caspian Sea ) Limited.
Another line of credit in the amount of $ 4 million will be provided to clients of the bank mortgage lending to finance the purchase of property , construction or repair of an apartment .
" For the development of non-oil sector of Azerbaijan is required to support small and medium-sized businesses . We are deeply gratified that the Initiative for Regional Development , the first financial institution , which will benefit from the new phase of cooperation with BP is precisely Bank Respublika. This stage will attract additional finance to the SME sector and will contribute to the empowerment of access to finance ," said the head of the Permanent Mission of the EBRD Baku Neil McKain .
Since 2004 , Bank Respublika is one of the most active partners EBRD , and in 2008 became the first bank in the country , which has received a loan from the EBRD for the development of mortgage lending. - 15D -
Economics
-
A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
-
The Cabinet of Ministers of the Republic of Azerbaijan approved amendments on July 17 to the list of goods, services, and tariffs regulated by the state, as well as adjustments to import and export customs duties. These changes, guided by Article 119, paragraph 8 of the Constitution of Azerbaijan, aim to streamline economic activities and improve the regulatory framework.
-
Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
-
Since July 1, bus and metro fares have increased by 10 qəpik, reaching 50 qəpik. The fare for buses on the Baku-Sumgayit route has risen from 60 qəpik to 70 qəpik. However, it is reported that there has been no improvement in service quality following the price increase. According to complaints, air conditioners are not working on buses operating in the periphery, and overcrowding persists.
Leave a review