Investors of 10 closed banks have received from the Deposit Insurance Fund compensation totaling 718 million 002 thousand manat. The specification is as follows:
Para Bank – AZN 42 million 907 thousand (98% of the total amount of compensation), Zamin Bank – AZN 52 million 383 thousand (72%), Credo Bank – AZN 27 million 770 thousand (98%), Deka Bank – AZN 3 million 021 thousand (96%), Atra Bank – AZN 14 million 269 thousand (97%), Qafqaz Inkishaf Bank – AZN 1 million 944 thousand (92%), Bank of Azerbaijan – AZN 24 million 148 thousand (97%), Ganja Bank – AZN 976 thousand (94%), Tekhnika Bank – AZN 120 million 050 thousand (98%), and Bank Standard - AZN 430 million 534 thousand (97%). -----71D
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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