The priority of the European Investment Bank (EIB) in Turkey in 2016 will be to support the energy sector in the country, "Anadolu" agency was told by the deputy head of the EIB Pim van Ballekom.
According to him, at this point in the agenda of the EIB is the construction of Trans-Anatolian gas pipeline (TANAP). "For the realization of this major and strategic projects, worth $8 billion, our bank has been requested $1 billion. We will provide this support, not immediately, but gradually," said Ballekom.
The deputy head of the EIB stressed that the topic of diversification and security of energy supply is very important for Turkey, recalling that last year the EIB allocated for Turkey $2.3 billion to finance energy and transport.
TANAP is part of the Southern Gas Corridor, designed to ensure the supply of gas from Azerbaijan to Turkey, and further to Europe. -02D-
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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