Another local financial entity will get a credit window from the investment portfolio of the International Finance Corporation (IFC). As stated on its website, the new beneficiary will be the private leasing company MCB Leasing, which is allocated $ 3 million.
The Board of Directors of IFC in early December will approve the loan. "The funds will help MCB Leasing support its clients in the sector of small and medium enterprises in Azerbaijan," the information reads.
MCB Leasing Company was registered in Azerbaijan in October 2009 and started to work in mid-2010. The main shareholder is the Pakistani MCB Bank Limited, and part of the company's shares also belongs to an Azerbaijani individual. At the end of 2013 the company had a stake of 3.2% in the leasing market in Azerbaijan.
Azerbaijan has been a member of IFC since 1995. During the period of cooperation the corporation has spent $ 414 million to finance 73 projects in Azerbaijan. In addition, IFC raised $ 73 million from other credit institutions for these projects. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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