Azerbaijani banks in 2014 significantly increased lending to customers in the country. According to the Central Bank in the first seven months of this year compared with the same period of 2013 regional lending to individuals and legal entities grew 29% to 2,708,382,900 manat.
In the first place in terms of lending traditionally featured the Aran (Lowland) economic region - 946 921 100 manat with an average rate of 21% per annum, followed by the Absheron economic region surrounding Baku - 546 144 200 manat (18.2% interest), the Ganja-Gazakh economic region - 359 257,800 manat (22.1%) and the Lankaran economic region - 284 939 100 manat with an annual rate of 23.5%. -0
Economics
-
The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
-
Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
-
The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
-
In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
Leave a review