International Bank of Azerbaijan (IBA) and one of the leading payment systems UnionPay International signed a partnership agreement.
The partnership provides for the adoption of ATMs and POS- terminals MBA card payment system UnionPay International, as well as for the first time in Azerbaijan began issuing cards with this payment system.
UnionPay International is the national payment system in China established in 2002 by the State Council for Countries and the People's Bank of China. UnionPay International ranked first in the world in the number of issued cards, and a second position in terms of turnover on the cards . The total emission of UnionPay cards in the world is more than 3 billion cards. Plastic cards issued by this payment system are accepted in 141 countries around the world. -15D -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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