The European Bank for Reconstruction and Development (EBRD) signed an agreement with Access Bank to co-finance the construction sector in Azerbaijan. According to the report of the local representation of Access Bank, the funds will be allocated under the Eurohome project.
The first co-financing Eurohome project has good prospects, as it is a strong and experienced participant of the building materials market. With reference to the Chairman of the Board of Access Bank Michael Hoffmann it is said that this is an indicator of long-term investment in an economically stressful period.
JSC Access Bank has been operating since 2002 on the basis of the CBA license. Its founders are the Black Sea Trade and Development Bank, the EBRD, the International Finance Corporation, KfW Bank (Germany), the German consulting company LFS Financial Systems and Access Holding. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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