The criterion need in Azerbaijan, used to determine the amount of targeted social assistance (TSA) is planned to increase from 105 manat to 116 manat in 2017, Finance Minister Samir Sharifov said during the discussions on the draft state budget of Azerbaijan in the parliamentary committees.
On Wednesday, the parliamentary committees on defense, security and fight against corruption, economic policy, enterprise and industry, agricultural policy, public unions and religious entities, natural resources, energy and environment started to discuss Azerbaijan's state budget project for 2017.
The Minister noted that the need criterion will be increased due to changes in tariffs on a number of utilities. -----71D
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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