DemirBank according to the rating of the Azerbaijan Mortgage Fund (AMF) ranked first among the country's banks to issue mortgages.
Figures for 2013 were posted on the AMF. According to statistics, 976 mortgage loans to DemirBank, were refinanced by the AMF. It is the highest index among authorized credit institutions.
It should be noted that, in addition to cooperation with the Azerbaijan Mortgage Fund, DemirBank also provides mortgage lending at its own expense. Mortgage loans from the funds of the Bank shall be issued for the purchase or construction of housing.
DemirBank, is the first commercial bank in the country, which began operations in 1989. Among its shareholders are major international financial institutions such as the European Bank for Reconstruction and Development and the Netherlands Development Finance Company (FMO). DemirBank ranks from Fitch Ratings at "B" with "stable" forecast and Planet Rating at "B" with "positive" forecast . These ratings are among the highest in the banking sector of Azerbaijan. -15D -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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