The first grant competition for the best innovation and research projects in the ICT sector has started .
According to the State Fund of Development of Information Technology , it is responsible for the selection of works, outlined five priorities . This " Knowledge Networks based on modern technology ", " Preparation of progressive software", " Sample Preparation of innovative ICT products ", " Development of innovation infrastructure , including the development of new technologies and their commerce" and "Expansion of ICT services , including development of Internet services. "
Welcome projects from April 2 to May 1, inclusive. The main criteria for evaluating projects are: the commercial potential and relevance of the project , the possibility of attracting local and foreign investors for the project , the possibility of its future expansion and contribution to the socio -economic development of the country.
State Fund is designed for business development in the field of ICT and provide financial support to the best representatives of this sector . It attracts local and foreign investment, enables the integration of new technologies into the local economy , improve the investment climate in the sector.
In 2013-14 the Fund received from the state budget of 5 million manat . Under the rules , the Fund provides loans through authorized credit organizations ( Rabitabank , PASHA Bank, VTB Bank (Azerbaijan), DemirBank and Bank Respublika). In turn, the authorized credit institutions accept applications from entrepreneurs who want to get soft loans . Return concessional loans , as well as other income remain in the account fund and used for other purposes.
From the fund one may receive loans under the following conditions : for small loans of up to 3 years to between 10 000 to 50 000 AZN, and for average loans of up to 5 years - from 50 000 to 500 000. Large loans for up to 10 years range from 500,000 to 5 million manat . The money is issued under 1 % per annum.
There are irrecoverable loans ( Grants ) . Small grants range from 10 000 to 100 000, medium - from 100 000 to 200 000, large - from 200 000 to 300 000. - 17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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