The normal development of small and medium-sized enterprises in Azerbaijan requires funding of $ 2.3 billion.
It was forecast by the senior expert on banks of the International Finance Corporation (IFC) Camar Salim on the three-day workshop on "Loans secured by movable property in Baku" organized jointly with the National Confederation of Entrepreneurs of Azerbaijan (ASK). The foreign expert said that the seminar will focus on new tools and approaches to enhance the interest of credit institutions to issue loans secured by movable property.
According to the World Bank specialist on the use of movable property as collateral, Simon Thompson, the seminar will consider such mechanisms as the development of leasing in Azerbaijan, factoring, financing, supply chains, and so on.
The ASK President, Mammad Musayev noted that the majority of loans in Azerbaijan are issued under mortgage, which creates obstacles for small business that does not have realty, but is interested in getting credits. --17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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