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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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