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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Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
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Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
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Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
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The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
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