Baku hosted a joint seminar of BSE and PWC (PricewaterhouseCoopers) Azerbaijan «Financing through shares and bonds and IPO».
According to the statement by the representative of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan Neal McCain, the agency plans to adopt an action plan in June to issue bonds denominated in manats.
"Our experts regularly come to Baku to discuss the matter. In June, we are planning to adopt an action plan. In addition, we are preparing to sign a memorandum of understanding with the Central Bank of Azerbaijan," he said, however not naming the dates of the securities issue.
The head of the mission said that the EBRD also intends to offer new tools to enhance the possibilities of attracting funding in manats. "We are negotiating with the Central Bank and the State Securities Committee to use all possible tools, such as currency interest rate swaps, bonds, notes, etc.," he said.
During the cooperation with Azerbaijan, the EBRD has committed the country 2.3 billion Euros for the implementation of about 160 projects. Last year alone, the EBRD committed 238 million Euros to 21 local projects. --17D-
Economics
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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The Supreme Eurasian Economic Council of the Eurasian Economic Union (EAEU) convened today, December 26, 2024, at a summit highlighting the evolving dynamics of regional cooperation and the complex interplay of geopolitical interests among EAEU member states. The meeting, held in Saint Petersburg, brought together the leaders of the EAEU countries to discuss a robust agenda that could shape the bloc's trajectory in 2025 and beyond.
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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