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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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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