In the private sector investments are being made not only by the National Endowment for the enterprise, but also by international financial institutions.
This year, the European Bank for Reconstruction and Development (EBRD) will assist the ten non-governmental projects in the financial and real sectors. The nominal value of each of them - from $ 500 thousand to $ 10 million addition, the Board of Directors is considering several financing packages of projects in the field of agriculture, food industry, production of building materials, etc.
According to the bank, there is an opportunity to purchase shares of one of the leading insurance companies in Azerbaijan.
In the past year, the Bank allocated $ 109 million for lending to 16 private commercial projects in the local economy.
Azerbaijan has been a member of the Bank since 1992. So far, the bank has signed 135 investment agreements worth more than $ 1.6 billion in various sectors of the local economy. Investing in renewable and efficient sector is a priority.
Bank's current portfolio to 58 projects in Azerbaijan at the beginning of 2013 amounted to 667 million euros, of which 43% came from the private sector. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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