Foreign Exchange Reserves of Central Bank Increased During the First Three Quarters by 10%
Official foreign exchange reserves of the Central Bank of Azerbaijan (CBA) on October 1 of the current year amounted to $ 11,506.5 million.
According to the CBA, in September, the foreign exchange reserves increased $ 227.2 million, or 2%, and since the early year - $ 1,025 million or 9.8%.
Over the past 12 months the reserves of the Central Bank increased $ 4,563.2 million or 65.7 percent.
The current level is a historical high for the foreign exchange reserves. - 15B -
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has achieved a 20% reduction in emissions compared to 2022 levels, exceeding the International Maritime Organization’s (IMO) 2030 target, ASCO Chairman Rauf Veliyev announced during a presentation at COP-29 events in Baku on Monday.
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Nationally Determined Contributions (NDC) 3.0 are the most critical political documents for each United Nations member state to combat greenhouse gas emissions, Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), said on Wednesday at the COP 29 event titled "Leveraging the NDC Partnership Model for Accelerating Ambitious Climate Action."
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Azerbaijan has taken a significant step towards advancing its renewable energy ambitions with the signing of a Memorandum of Understanding (MoU) between the State Agency for Renewable Energy Sources (BOEMDA), “Clean Energy Invest LLC,” and “Baltech Green LLC” to develop the Kalbajar Wind Power Plant.
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BAKU, Nov 20 (Reuters) - Azerbaijan aims to fully electrify its bus fleet by 2030 as part of its commitment to sustainable urban transport, Digital Development and Transport Minister Rashad Nabiyev announced at the "Green Urban Transport" high-level roundtable held during COP29 events.
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