More than fourfold increase in the refinancing rate of the Central Bank of Azerbaijan for the period from May 2014 to September 14 this year (from 3.5 to 15%) affected the requests of local financial and credit institutions.
As stated in the CBA report, by October 1, total volumes for this position were at the level of 6 billion 475.1 million manat (minus 25 million to September 1 and minus 79.6 million to August 1).
As can be seen from the bank reporting indicators, they have not ceased to look for credit lines and simply abandoned the CBA services, seeking for foreign financial institutions applying a more gentle rate. --17D-
Economics
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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Croatian Prime Minister Andrej Plenković announced enhanced efforts by Croatia to protect the Adriatic Sea and advance renewable energy projects during his address at the COP29 summit in Baku on Wednesday.
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Italian Prime Minister Giorgia Meloni on Wednesday called for collective action to limit global warming to 1.5 degrees Celsius during her address at the COP29 summit in Baku, emphasizing the need for a united response to the climate crisis.
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