Large Credit of Hungarian ExImBank for Azerbaijan to Be Directed Primarily to North-South Project
The credit line of $ 200 million allocated by the Hungarian ExImBank Plc can "grow" and be aimed at the implementation of the international railway project North-South that would connect Northern Europe to South-East Asia through Azerbaijan and Iran.
As stated the Ambassador of Hungary to Azerbaijan Imre Laslotski said, positive point is the bank's dependence not from the European Commission bodies, but directly from the Ministry of Foreign Affairs of Hungary, because the final word is for Minister Peter Siyarto, who last week visited Baku within the framework of the intergovernmental commission on economic cooperation.
"The Hungarian side considers the project very promising," the diplomat said, adding that the bank intends to open a credit line to the local JSC Pasha Bank in the amount of $ 5 million for lending to small and medium enterprises.
Recall, on 27 June, Minister of Foreign Affairs and Trade of Hungary, Peter Siyarto said in Baku that the parties reached a consensus on the allocation of a credit line for the purchase of equipment and the provision of engineering services in the framework of North-South with a condition of participation of Hungarian companies in the project. --17D-
Economics
-
President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
-
Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
-
Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
-
The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
Leave a review